Firm launches first corporate ISA for staff
Housebuilder Barratt today launched the UK's first company ISA for its staff.
The group has teamed up with insurer Legal & General to offer its workers access to 10 investment funds in a tax-free ISA wrapper.
The product works in the same way as any other stocks and shares ISA, with staff able to save up to £10,200 a year into it.
But it has the added benefit of lower management charges, as well as enabling staff to make contributions through payroll deductions.
Employees can contribute to the ISA on a regular basis through the payroll, or make one-off contributions as long as they are at least £200.
They can manage their money online and adjust the amount they are saving at any time.
They can also transfer money they have saved in other ISAs into the fund and make withdrawals whenever they want to, as long as at least £200 is being taken out.
Jayne Mee, people and customer experience director at Barratt Developments, said: "We are continually looking to improve the benefits and rewards we offer to our employees and that is why we are excited to be launching the first ever corporate ISA.
"They will be able to take advantage of low management fees and make payments from payroll deductions as part of this highly competitive way of saving for the future."
Tony Filbin, Legal & General's managing director of workplace savings, said: "Regular contribution company ISAs are set to revolutionise participation in company saving schemes.
"It is now possible for employers to take a huge step to drive effective workplace savings forward."
- 1 Sabina Altynbekova, the girl branded 'too good looking' for volleyball, says social media obsession with her is a 'bit much'
- 2 Disney heiress Abigail disowns her share of family profits in West Bank company
- 3 The secret report that helps Israel hide facts
- 4 Israel's propaganda machine is finally starting to misfire
- 5 'Hello mum, this is going to be hard for you to read ...'
Sally Farmiloe dead: Howards' Way actress, and former mistress of Jeffrey Archer, dies aged 60
Russell Brand accuses FOX News anchor Sean Hannity of terrorism after aggressive Israel-Gaza debate
Pope Francis issues top 10 tips for happiness – including don’t try to convert other people
Sabina Altynbekova, the girl branded 'too good looking' for volleyball, says social media obsession with her is a 'bit much'
Justin Bieber posts Instagram photo of Orlando Bloom crying after fight 'over Miranda Kerr'
The secret report that helps Israel hide facts
Land for gas: Merkel and Putin discussed secret deal could end Ukraine crisis
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
A day in the life of Vladimir Putin: The dictator in his labyrinth
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Richard Dawkins tweets: 'Date rape is bad, stranger rape is worse'
- < Previous
- Next >
iJobs Money & Business
£20000 - £24000 per annum: Harrington Starr: A leading provider of web based m...
£28000 - £32000 per annum: Ashdown Group: Secretary (Sales Team Support) - Mat...
Competitive (DOE): Guru Careers: We are looking for an Assistant Management Ac...
£600 - £700 per day + competitive: Orgtel: Senior Investment Accounting Change...