Workers ‘one pay cheque away from poverty’
Jul 19 2010
UK employees on average say they could survive for just four weeks without full pay.
Meanwhile, 21 per cent of employees have no financial back-up should they be unable to work, according to research from insurance company Unum.
According to the survey, workers living in Wales and the North East are the most likely to have no financial security net, with 32 per cent and 24 per cent respectively admitting to having no back-up plan should they be unable to work. Workers in Scotland are best prepared, with only 16 per cent having no additional financial plan.
Marco Forato, chief marketing officer at Unum, says: ‘Employers can play an important role in providing access to financial protection through the workplace, however only one in ten staff have some form of cover in place to protect them if they couldn't work.’
Of the 1,095 people surveyed, 25 per cent of employees say they would have to rely on their partner to support them and 24 per cent on their family if they were out of work.
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