Employees saved £156 a month into sharesave schemes in 2015

Employees made average savings contributions of £156.23 a month into sharesave (SAYE) plans in 2015, according to research by employee share ownership membership organisation Proshare.

Data from its annual Share incentive plan (Sip) and sharesave (SAYE) survey, which is based on data from share plan administrators in the UK which are members of Proshare, also found that monthly savings contributions of £89 were made into Sips on average last year.

In 2014, the average employee contribution was £122.94 a month for sharesave schemes and £80 for Sip accounts.

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Almost 1.5m sharesave accounts and £1m Sip accounts were held by employees in the UK in 2015.

Gabbi Stopp (pictured), head of employee share ownership at Proshare, said: “The findings from the Sip and SAYE survey once again show that despite the increasingly broad array of savings choices available to consumers, be it auto-enrolment pensions, the introduction of the Lifetime individual savings account (Lisa), Help to Save and Help to Buy, and in many cases, low returns, employee share plans remain a very effective means in which to save.

“The value of [sharesave] and of Sip is both understood and highly regarded by employers and employees alike and it is quite clear that share plans are seen as far more than effective savings vehicles by employees. Indeed, the findings can be seen as a vote of confidence in the organisations they work for and a long-term investment in their futures as employee shareholders, which can only be a good thing for the UK economy.”