Thousands of Tesco employees will today receive their share of a £126million payout from the supermarket’s save-as-you-earn scheme.
More than 52,000 staff members who paid into the “every little helps” savings scheme, including till operators, delivery drivers and shelf-stackers, have seen their cash grow by up to 88 per cent. Each saver will also get a tax-free cash bonus.
The workers saved between £5 and £50 every month from their salaries for either a three-year or five-year period.
David Potts, Tesco’s retail director, said staff who each put aside £3,000 over five years will receive almost double their money back, while those who saved for three years have gained 45 per cent on their investment .
He said that the returns from the scheme far out-performed those that would have been achieved from standard high street savings accounts .
“Tesco’s save-as-you-earn scheme has yet again proved it really delivers,” he commented.
“Despite the fact that they have good jobs, our staff are not immune to rising household costs and financial worries.”
Such save-as-you-earn schemes are also provided to workers at Sainsburys, Asda and Marks and Spencer .
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