Nearly half of employees save via company schemes

At the end of 2000 nearly three million employees saved part of their wage through an employee savings scheme. Ever since its introduction in 1994 this scheme has been very popular. By 1995 29 percent of all employees were taking part. Since then the percentage has risen steadily and is now 43 percent.

Participation in employee savings scheme

Mainly full-time and higher wage categories

More than half of full-time employees save part of their income. For part-time employees this is only one in three. Hardly any employees with a flexible contract take part in such schemes: only five percent. The participation in these schemes is apparently connected with the level of the wage. Only one in eight employees earning an annual salary up to 11.3 thousand euro save with a company scheme, while some seventy percent of those earning more than 34 thousand euro make use of the scheme. The tax benefits are also greater for employees with a higher wage. Employees earning a lower wage are less often in a position to be able to afford to save via such a scheme, or their employer does not have this provision.

Number of savers per wage class, 2000

Government leads the way

Particpation in savings schemes are greatest for the government sector: six out of ten government employees save via a savings scheme. In the private sector only four out of ten employees take part in such a scheme.  Participation is highest in the sectors energy and water, mineral extraction and financial institutions, while in the hotel and restaurant sector only fourteen percent of employees save via an employee scheme. It is no coincidence that this is the branch of the private sector with the fewest full-time employees.

Participation in savings schemes by sector, 2000

Employees of large companies more likely to save

Nearly half of staff employed by companies with one hundred or more employees take part in company savings schemes. There is less interest in small companies: only one quarter of employees of companies with fewer than ten employees take part.

Han van den Berg and Job van der Zwan