The latest research from Cigna shows the UK dropping to eighth place in its ranking against 12 other nations for wellbeing.

The UK has dropped consistently in the last 3 years, from third place in 2015 to fifth place last year and is now eighth.

The survey examined five aspects of wellbeing for 14,000 individuals: their physical health, their family lives, their social lives, their finances and their work. 

Half of those surveyed said they are worried about money including areas such as their current finances, provision for retirement, meeting medical needs and maintaining their standard of living.

Improving wellbeing is now a particular focus for many of the UK's employers with a growing interest in strategies to support mental health and financial wellbeing in recent years.

Helping employees to improve their financial wellbeing not only helps the individual, but has a positive impact on their work and society overall, lessening their use of benefits and helping them to contribute more to production, saving and spending.

If we don't want the UK falling further behind in the wellbeing index, there are three potential levers that could cause a mass change in financial wellbeing in the UK: educating children so they establish good financial habits early on and carry these throughout their lives; reaching employees via their employer with financial education embedded in their wellbeing strategies; and continuing towards an agenda of greater clarity, transparency and accessibility for pensions, tax and investment via government strategy.