The Ashmore Group replaces Sipp with corporate Isa

The Ashmore Group, an investment management company specialising in emerging markets, has more than 130 employees, based in London.

It launched a corporate Isa in March, as part of a corporate platform, to replace the company’s self-invested personal pension (Sipp). The platform itself had a 100% take-up, because it included the company pension, which is non-contributory and entirely funded by the employer.

However, 16% of staff also took up the option of a corporate Isa, which is a relatively high take-up for a new benefit of this type.

Stuart McIntosh, head of employee communications at Hargreaves Lansdown, which runs the platform, says the high take-up was partly due to a communications drive that saw 75 staff have one-toone sessions. As a result of those meetings, 43% of employees started contributing to workplace savings, and there was a 20% uplift in the value of contributions.

Sign up to our newsletters

Receive news and guidance on a range of HR issues direct to your inbox

Email(Required)

OptOut

From time to time, we will send you emails about selected products, events and services from Employee Benefits – but you can choose to opt-out at any time. If you do not wish to receive these emails, please tick this box.

Email

This field is for validation purposes and should be left unchanged.

Δ

McIntosh adds: “The nature of the company also means there is an interest in investment, and staff liked the range of choice of investments. They can choose from 2,600 funds, including their own, and any shares, including their own.”

Rob Edwards, head of human resources at Ashmore, says: “The corporate platform has proved a convenient, flexible solution for our employees. Any employer that wants to give their staff more options for savings should consider this type of scheme.”