Workplace Savings & Investments
What are Workplace Savings & Investments?
Workplace savings schemes are employer-sponsored programmes that allow employees to save regularly from their salary into various savings or investment accounts. These schemes are designed to help employees build financial security over time, whether it is saving for retirement, emergencies, or personal goals like purchasing a home.
This benefit also encompasses company share schemes which allow employees to purchase company stocks at a discounted rate, or receive shares as part of a bonus structure. This encourages employees to invest in and contribute to the organisation’s long-term success.
Benefits to Employer
For employers, offering workplace savings schemes demonstrates a commitment to employees’ financial wellbeing, showing that the company supports long-term financial security. Additionally, workplace savings schemes can help reduce employee financial stress, which can improve productivity and engagement. Employers may also benefit from tax advantages if they offer matching contributions or similar incentives.
Benefits to Employee
Employees benefit from workplace savings schemes by having an easy, disciplined way to save regularly directly from their salary. Many schemes offer employer contributions or matching, increasing the value of the savings over time. Employees also benefit from the tax efficiency of certain savings schemes which can provide savings on income or capital gains tax. These schemes help employees plan for long-term financial goals, building security for the future.
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Ben is easily the most engaged initiative we’ve ever had. It gets everything to everyone in different locations, and I can’t even tell you how much time it’s saved us.
