- Share ownership scheme delivers £515 million for colleagues since it was launched in 1982
- On average, over 25,000 colleagues have taken part each year
Asda is today celebrating the 30th anniversary of ShareSave, its share ownership and savings programme; with the news that colleagues have saved over half a billion pounds since 1982.
The scheme, which is currently open for colleagues to join for the 30th consecutive year, allows colleagues to set aside £5 to £250 per month for a three year period, at the end of which they receive a tax free bonus and an opportunity to buy Walmart shares at a 20 per cent discounted price. Colleagues are then able to sell the shares at market rate, giving them the opportunity to benefit from an additional dividend on top of their savings.
On average, over 25,000 colleagues a year have taken advantage of this opportunity, putting aside roughly £20 per month for the duration of the three year period.
Hayley Tatum, People Director at Asda, comments: “Our in-store and depot colleagues work extremely hard, day-in day out, to serve the 18 million customers that come through our doors each week. The ShareSave scheme is just one of the ways we want to thank them for their efforts.
ShareSave gives our colleagues the opportunity to save each month, risk free, and also reap the rewards of their hard work.”
Included in the £515 million awarded to colleagues over the last 30 years, is the record £49million pocketed by colleagues last year. Those who took part and saved the maximum amount received over £15,000, more than £6,000 profit on their original investment of £9,000.
Over the course of 30 years, colleagues have spent their windfall on everything from dream holidays and cars, to home improvements, weddings and even important medical procedures.
Mary Green, who has worked at Asda for over 34 years, has taken part in ShareSave every year since launch, and estimates that she has saved over £40,000 in the process. Mary has used her ShareSave money over the years to pay for her wedding in Cuba, holidays to Mexico, Sri Lanka, Thailand and India; a new conservatory and even a new VW Golf in 1991.
Cecilla Coffie, from Asda Southgate Circus, has also worked at Asda for almost 8 years and will be using her ShareSave money to fund her father’s eye operation in Ghana.
Cecilla said: “My Dad needs a cornea transplant so requires a complicated operation on both his eyes. This type of surgery is quite expensive in Ghana so I purposely saved this money to help fund it. I know I’m not spending the money on myself, but this operation will help my dad realise his dream and make his life that little bit easier, which for me is much more important.”
Notes to Editors