GHP April 2016

ghp April 2016 | 9 SalaryFinance Partners with My Trust Benefits to roll out Financial Benefit to NHS Employees SalaryFinance, the financial employee benefit, is today announcing a partnership with benefits provider My Trust Benefits to make its service available to over 120,000 NHS Trust staff in England. This company offers businesses and public sector institutions a free financial employee benefit that allows their staff to consolidate their personal debts into a low-cost, fixed-rate loan. The repay- ments are taken directly from their salary payment, keeping the interest rate low (7.9% APR), saving each employee an average of £900 pounds. The service is free for employers and staff, and an applicant’s eligibility is unaffected by their credit score or income level. The partnership with My Trust Benefits means that thousands of NHS Trust staff may be able to drastically reduce their personal debts, and improve their financial health. Alongside this, SalaryFinance is also partnering with My Trust Benefits’ sister company, Groupschemes, to extend the benefit to a further 100,000 private sector employees. Asesh Sarkar, CEO of SalaryFinance commented: “Public sector pay has been a contentious issue in recent months, particularly in the NHS. Through this partnership, we hope to help tens of thou- sands of NHS Trust staff to pay off their debt quicker and get on the road to financial wellbeing. Every year, NHS Trust staff help millions of people improve their physical and emotional wellbeing. We are very excited by the potential to help these terrific people improve their own financial wellbeing”. Peter Jenkinson, MD of My Trust Benefits added: “This partner- ship with SalaryFinance will allow us to add to our list of innovative employee benefits that we can offer to staff across the UK. With its unique offering, SalaryFinance will undoubtedly help many NHS Trust staff and other UK businesses to improve their personal finances and reduce their stress”. • SalaryFinance allows employees to repay their personal debts as quickly as possible through a low-cost, fixed-rate loan • Through My Trust Benefits, the service could reach over 120,000 NHS Trust staff • SalaryFinance will also be available through My Trust Benefits’ sister company, Groupschemes, to over 100,000 employees in the private sector • Savings made from the service equate to a 3%- 5% pay rise