UK Money News
4th June 2008
Asda staff scoop £37.5m jackpot with SAYE scheme
Asda employees who participated in a Save-As-You-Earn (SAYE) employee share plan are today set to benefit from a total windfall of £37.5 million, it has been announced.
Around 20,000 of the retailer's staff will receive money from the scheme with payouts determined according to the level of contributions made.
The average staff member will receive £2,185 after investing £1,548 in monthly payments of £43.
Meanwhile, savers who deposited the maximum sum of £250 will receive £12,700 - a gain of £3,700 on their original £9,000 investment.
Phil Hall, head of public affairs at ifs ProShare, said: "We are naturally delighted that another ifs ProShare member company has had such a strong performing SAYE scheme.
"The success of this plan is great news for the checkout assistants, delivery drivers and other employees at Asda who will benefit from a bumper payout."
He added: "It is also good news for SAYE schemes in general as this acts as a positive example of the benefits saving in this way can have."
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