Report: SAYE and SIP Survey 2016
ProShare's annual report analyses the trends and participation rates in UK Save As You Earn (SAYE) and Share Incentive Plan (SIP) schemes.
- The average employee monthly contribution was £158.18, and was the fifth consecutive year of increased contributions.
- Take up of three-year SAYE schemes has increased from 83% in 2015 to 86% in 2016.
- Most companies continue to offer the maximum option price discount for SAYE. In 2016, 213 (76%) companies offered the maximum 20% discount, compared to 253 companies (80%) in 2015.
- The most popular combination of SIP share elements offered remains 'Partnership and Matching Shares only' followed by 'Partnership Shares only'.
SAYE has been around for 37 years, and SIP for 17 years. ProShare believes that the endurance of these schemes is a testament to the effectiveness of them as vehicles for saving and investing, as well as improving the distribution of financial gains across the workforce with their tax savings.
Head of ProShare