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£200 Million Given to UK Workers in Free Shares in 2011, Reveals Major Employee Share Survey

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£200 Million Given to UK Workers in Free Shares in 2011, Reveals Major Employee Share Survey PR Newswire LONDON, July 4, 2012 LONDON, July 4, 2012 /PRNewswire/ -- Just over £200 million (£203,014,435.

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£200 Million Given to UK Workers in Free
Shares in 2011, Reveals Major Employee Share
PR Newswire
LONDON, July 4, 2012
July 4, 2012
/PRNewswire/ --
Just over £200 million (£203,014,435.89) was given to UK workers in free shares
last year, according to the annual
Employee Share Survey. A total
of 378,497 workers received on average £536.37 each in free shares during
2011. This average was down from £675.98 per employee given to 353,235
employees in 2010. The tax-free shares were given to employees as part of
Share Incentive Plans (SIPs), often part of reward and retention packages, up to
an annual maximum of £3,000 per employee.
The survey of over 451 companies, including 95 of the FTSE 100, also revealed
that over 2 million employees participated in an employee sharesave scheme in
2011, representing 37% of staff eligible to participate.
The average monthly amount of money employees contributed to a Save As
You Earn (SAYE) sharesave grew slightly, to £102 from £101 in 2010, and an
increasing number of staff are saving the maximum monthly amount of £250,
up 7% to 22% in 2011.
John Collison, Head of
"As our survey has shown, giving employees free shares remains a popular,
tax-efficient way of rewarding employees at all levels. These are often given in
recognition of good performance, either of the individual or the company, or as
a way of retaining staff due to the tax implications of selling free shares within
three to five years of receiving them.
What many people still don't realise however is that these employee share
schemes are widely available to the majority of private sector UK workers. We
calculate that around 2 million UK workers are currently participating in an all
employee share scheme. If you work at a publicly listed company, it's very
likely a range of share scheme options are available to you. An SAYE scheme
for example, is one of the most popular and represents a low risk way of buying
shares in the company you work for. At the end of the scheme, if the share
price has fallen, employees do not have to buy the shares at the price offered
at the start of the plan, they can choose to receive a full refund of their
payments instead."
Employees can save between £5 and £250 per month from their net salary in a
SAYE sharesave scheme for example, making it an affordable way of investing
in shares and the company they work for.
Employers such as BT, Aviva, National Grid and ASDA all offer a range of SAYE
(Save As You Earn) and SIP (Share Incentive Plans) share schemes. Over
17,000 ASDA employees recently received on average £2,900 each from an
SAYE sharesave scheme.
Notes to editors:
is a not for profit organisation that promotes employee share
ownership and workplace financial education.
was established in 1992 by the Treasury, London Stock Exchange
and a number of major companies to promote Employee Share Ownership.
For further information, please contact Matt Beasley on +44(0)20-7444-7103 or
e-mail mbeasley@ifslearning.ac.uk, or visit http://www.ifsproshare.org.