City regulator says financial institutions face challenge of creating products suitable for the 800000 people on such contractsZero-hours contracts make it harder for workers to save and present a challenge to financial institutions to reach up with products suitable for consumers on less secure incomes,the City regulator has said.
The number of workers on zero-hours contracts, which do not offer a minimum number of hours a week, and surpassed 800000 for the first time in the final three months of 2015. This represents approximately 2.1% of the UK workforce,according to the Office for National Statistics.
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Source: theguardian.com