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.
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.”
