MySavings Launched to Meet the Demand for Workplace Savings
Zurich has launched a new solution called MySavings. This is a holistic solution utilising the investment expertise of Mercer, which is the largest investment consultancy firm in the world. MySavings is a workplace savings platform offered by Zurich combining access to a range of dynamic investment solutions designed and managed by Mercer with Zurich’s administration and record-keeping services.
MySavings will give employees exclusive access to a bespoke range of Mercer investment solutions. The proposition is based on their innovative investment ideas and manager research, covering more than 30,000 global investment strategies. The combined scale and institutional buying power of Mercer ensure competitive pricing and reduces time spent evaluating different investment approaches and negotiating with managers.
A YouGov survey commissioned by Zurich and Mercer in 2017 found that 78% of individuals think their employer should be doing more to help them prepare for their financial future. Employees are increasingly looking to their employers to offer a cost-effective way to assist with their long-term savings and an employer-facilitated savings plan can provide a key part of an overall remuneration package. At the same time, the plan can be used to attract and retain top talent or reward individuals who choose to stay with the employer on a long-term basis.
Walter Jopp, CEO Zurich Middle East highlights the benefits of this partnership: “Partnering with Mercer helps address a known issue in the Middle East –there is an obvious need for quality, workplace savings and gratuity funding advice in the region, and our partnership with Mercer is an ideal fit; Zurich is a market leader in the international corporate savings market, with more than USD4 billion of assets under management for 730 companies and their 84,000 internationally mobile employees worldwide, and Mercer is a major provider of investment services with USD 227 billion of assets under delegated management globally.”