Supported by Legal & General, over 900 volunteers, and other corporate partners, RedSTART will transform the life chances of some of the UK’s most disadvantaged children by removing one of the barriers to social mobility.
29 Sep 2022
Promoting long-term financial wellbeing starts early with teaching young people about managing money and understanding finance. Legal & General wants to make navigating all things finance easier for children across the UK, so we have partnered with financial education charity RedSTART to support this goal.
Our support will enable RedSTART to deliver a series of age appropriate, immersive, and professionally accredited financial education events for these children.
We will also work closely with RedSTART to expand the programme into Wales, with a plan to launch in six Welsh schools in September 2023.
RedSTART teaches primary school children from some our most disadvantaged communities how money works and gives them the skills they need to avoid ending up in debt traps. They teach children progressively, building on their previous years’ knowledge.
Measurement is vital in assessing the value of interventions like this, and RedSTART is partnering with King’s College London and Boston Consulting Group to evaluate the impact of this programme.
The researchers will report back in 2029, with mid- and full-year reports tracking the programme along the way, allowing for RedSTART to make any extra interventions as needed. The reports will provide a body of evidence that will be presented to the Government to support the case for financial education to be a core subject for all 4.7 million primary school children across the UK.
Jack Roper, Group Head of Sustainability: “The seeds of a better retirement are planted early on, and RedSTART’s financial education is a great tool in helping young people improve their lives by building their long-term financial wellbeing. We’re excited to develop our partnership, and to see how their research with King’s College London can prove the impact of inclusive financial education and support policy decisions.”
Sarah Marks, CEO, RedSTART: “We’re delighted that Legal & General are supporting us. Our mission is to transform the life chances of some of the UK’s most disadvantaged primary school children by teaching them financial literacy and basic monetary skills. The partnerships we form will ensure that we reach as many children as possible. L&G’s values match perfectly; supporting people with their long-term financial wellbeing.”
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.2 trillion in total assets under management* of which 39% is international. We have a unique and highly synergistic business model, which continues to drive strong returns. Legal & General provides powerful asset origination and management capabilities directly to clients, which also underpin our leading retirement and protection solutions. We are a leading international player in Pension Risk Transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Our purpose is to improve the lives of our customers and create value for our shareholders. Through inclusive capitalism, we are investing in long-term assets, such as real estate and infrastructure, that can help build a better society for the future.
*as at HY 2023