Heatons – a healthy attitude to financial wellbeing

Heatons is one of the largest single source business suppliers in the UK, offering a range of products and services to cater for many business needs.

Established in the Wirral in 1986 by David Heaton Fielding as Heaton Stationery Limited, the business rapidly established itself a firm foothold in the North West and has continued to expand over the years.

Now rebranded as Heatons Group, with its head office based in Merseyside and offices in Cheshire and Cumbria, the firm has more than 100 employees who work across six divisions. True to its roots, Heatons continues to supply office stationery and business supplies along with office interiors, promotional gifts, workwear and PPE, and facilities supplies as well as print and design services.

With a growing number of staff, the business recognises the importance of its employees’ financial wellbeing and educating its workforce about the intricacies of their workplace pension and protection.

Focus on financial issues

Working with Armstrong Watson, Heatons has provided financial education and wellbeing webinars to its team members who are at different stages in their working lives. The first, aimed at those in their 50s and 60s, focussed on what they will need to consider approaching retirement, specifically their workplace pension - pension access, the funds they are in and using their pension going forward - as well as other issues such as Retirement Living Standards, State Pension and the impact of inflation. A second webinar, aimed at younger employees, covered a broad range of topics including pensions and consideration for increasing contributions, mortgage and income protection and savings. The webinars, which are available for all staff to access and review again, aim to educate and remind staff of issues they will need to consider now to benefit them in future.

David Heaton Fielding said: “Over the last 38 years I have seen so many staff join Heatons and mature and grow. Almost all didn’t imagine that at the end of the road is retirement, but with Armstrong Watson’s help we have awoken many to plan for a better-funded retirement.

“As a business owner who doesn’t want to retire or sell up, but who will have to drift back within the business soon, I (and I’m sure all caring employers) don’t want to think of our staff, who have helped us be successful, discovering a cliff edge when they come to retirement. Between Armstrong Watson and ourselves we do our best to help all to prepare for the future.”

Support provides greater peace of mind

Financial Planning Consultant Chelsea Whittock, who delivered the webinars, said: “Financial education and wellbeing is an extra benefit businesses can offer their staff. Pensions change so much, and the government could completely change the rules at any time. From an employer perspective, to do their part in educating their staff on any changes that are happening and how that could impact them, is really important. Providing webinars like this also gives employers peace of mind that their pension scheme is being looked after properly.

“It’s always a pleasure to help a business find an appropriate workplace pension strategy, but it’s even better when we can work together with their staff to deliver better outcomes for all.”

Heatons also engage Armstrong Watson to look after their additional employee benefits matters, with Hayley Towlson advising on their group death in service scheme which provides employees with a remuneration package that is more than just a salary, annual leave and pension contributions.

Hayley said: “A death in service scheme provides an individual’s loved ones/next of kin with a financial safety net should the worst happen, this helps financially during what is likely to be a very difficult time. The scheme is not just limited to adding benefit to Heatons’ employees in the event of death, it provides additional benefits that include remote GP, Get Fit programme, Mental Health support, Financial and Legal advice, Care Concierge and even dental care. Having access to these benefits shows the investment the business has in its people and their wellbeing.”