Payroll Deduction Savings Evaluation

The Money Advice Service wants to commission an evaluation of a Credit Union provided payroll deduction scheme. Broadly the Money Advice Service wishes to work with a Credit Union to design, implement and evaluate a workplace payroll deduction pilot of between 6 and 18 months, in order to: - better understand how to effectively encourage employees to participate, and remain, in automated payroll deduction schemes - gain an understanding of how effective such schemes are at assisting employees to build and retain a savings buffer to guard against income shocks The Credit Union will need to have an existing agreement or relationship in place with an employer. In addition, the successful…