Asda employees set to share £50.9 million when sharesave scheme matures

Employees at Asda are set to pocket £50.9 million when the supermarket’s next three-year sharesave scheme matures. 

This year’s payout, is the biggest on record for employees, and those that have saved £50 a month are expected to receive more than than £2,808, which represents a £1,000-plus gain on their original investment of £1,800.

The scheme, which is celebrating its 30th anniversary this year, allows employees to set aside between £5 and £350 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% discounted price.

According to Asda, employees are most likely to spend their windfalls on foreign holidays, weddings and home improvements.

Hayley Tatum, executive people director at Asda, said: “Giving our employees the chance to have a stake in the company is just one of our ways of saying thank you and a great way to ensure that they share in the success that their hard work has achieved.”

At this year’s Employee Benefits awards Asda took the prize for ‘Most effective all-employee share scheme strategy.’

Read more on share plans