The state of play with SAYE for 2026.

Around 5,700 Jet2 employees are set to share a £58 million payout as the airline’s first sharesave scheme, launched in August 2022, matures, with returns boosted by an 84% rise in share price. Employees who participated can either hold or sell their shares, with typical investors seeing gains of several thousand pounds depending on their monthly contributions. Following this success, Jet2 has introduced three more sharesave schemes for over 8,900 employees, alongside ongoing salary increases, profit-sharing, and bonus schemes to reward staff for their customer-focused performance.

Almost 1,000 Wickes employees will share a £14.1 million windfall from the company’s employee share save scheme, benefiting as the stock more than doubled in value over three years. Staff invested between £10 and £500 a month at a discounted price, with average savers more than doubling their investment and maximum savers potentially making over £22,000 in profit. The scheme rewards employees for their commitment, with many planning to use the payout for home improvements, holidays, and long-term investment.

Employee share ownership plans are widely used in the UK but poorly understood by MPs, and outdated design is contributing to falling participation despite clear benefits for workers, businesses, and productivity. SAYE and SIP schemes in particular have not kept pace with a more mobile workforce, with long lock-in periods and complexity discouraging take-up even as government policy seeks to broaden share ownership. With strong cross-business support and clear economic upside, the new government has a timely opportunity to modernise these plans—such as shortening holding periods—to revitalise employee ownership and inclusive growth.

Save As You Earn (SAYE) schemes, a tax-efficient employee share option program in Ireland, are now available again after several years, thanks to the entry of a new licenced savings carrier. SAYE allows employees to acquire company shares at a fixed price, with gains exempt from income tax (up to 40%) and offers employers PRSI exemptions, tax-deductible setup costs, and a tool for talent retention. Additionally, other tax-efficient schemes like Approved Profit Sharing Schemes (APSS) and restricted share plans provide further opportunities for companies to incentivize and retain employees through tax-advantaged equity awards.

Computershare has partnered with AIB to provide an Irish "Save As You Earn" (SAYE) programme, allowing clients to use AIB as a savings carrier for their approved SAYE schemes. The SAYE plan enables employees to save a portion of their net pay to purchase shares in their company, with the option price often discounted by up to 25%. This flexible plan offers employees the ability to profit from company performance while minimizing share price risk, as they can choose to take their savings back if share prices do not rise.

Lawyers at McCann FitzGerald recommend employers reconsider offering a Revenue-approved Save As You Earn (SAYE) scheme due to its risk-free, tax-efficient savings and share purchase options for employees, which can enhance engagement and retention. Despite the decline in SAYE savings carriers in Ireland post-Brexit, a new licensed provider is expected to be announced soon. SAYE schemes allow employees to save between €12 and €500 monthly for three to seven years, with the option to buy company shares at a discounted rate, and if they choose not to buy, their savings are returned tax-free.