Coda offers Shariah fund in GPP

Coda demonstrates its corporate social responsibility credentials through benefits by matching charity donations from staff and offering them a pension fund that meets their religious needs.

It offers staff a Shariah-compliant fund in its group personal pension (GPP) plan. The HSBC Amanah Global Equity Index, Shariah Law Compliant fund does not invest in companies that are involved in genetic engineering, pornography and pork products, so is compliant with Islamic (Shariah) law. Dave Belmont, company secretary, says: “We want to be inclusive.”

As well as contributing 6.75% to its GPP for staff, Coda offers a salary sacrifice arrangement and reinvests its national insurance savings in higher employer contributions.

It also matches charity donations up to approximately £1,200, typically in respect of two selected charities, when staff participate in fundraising events.

These measures are all used to demonstrate that Coda is a good organisation to work for. “We like to employ responsible people and, in turn, they want us to act responsibly too,” explains Belmont.