Latest HMRC and ProShare data highlights record SIP contributions, continued SAYE participation, and rising share retention among employees

LONDON, Sept. 21, 2026 (GLOBE NEWSWIRE) -- Record levels of employee investment through Share Incentive Plans (SIPs) and strong participation in Save As You Earn (SAYE) schemes suggest workplace share plans are helping create a new generation of UK investors, according to newly released HMRC and ProShare data.

Employees invested a record £520 million into SIP partnership shares during tax year 2024-25 and reinvested a further £150 million in dividends, while HMRC estimates participants secured £1.23 billion in Income Tax and National Insurance savings through tax-advantaged plans. ProShare data also shows that most employees exercising SAYE options chose to retain their shares rather than sell immediately.

Equiniti Share Plan Solutions says the results demonstrate that employee share plans should play a central role in efforts to increase retail investment participation across the UK, including the objectives behind the industry-led Retail Investment Campaign and the Government's broader Leeds Reforms agenda.

Key facts from HMRC’s 2024-25 data

SIP partnership investment reached its highest level on record with employees investing £520 million.
SIP dividend reinvestment reached a record £150 million.
Including free and matching share values, overall SIP investment reached £1.21 billion.
Options granted: SAYE options valued at £1.75 billion, CSOP options valued at £340 million and EMI options valued at £580 million.

ProShare data

ProShare’s 2026 SIP & SAYE Survey reinforces this positive picture, reporting increases in companies in the survey with live SIP and SAYE schemes, alongside detailing average monthly savings and investment levels that point to continued employee engagement:

Average monthly participant savings across all SAYE grants is £177.65.
Average monthly participant investment into SIP partnership shares is £92.96.

HMRC and ProShare data together provide the most comprehensive picture of employee share ownership in the UK.

"The debate around retail investing often focuses on how to encourage more people to start investing," said Jennifer Rudman, Industry Director at Equiniti Share Plan Solutions.

"These figures show that employee share plans are already doing exactly that. Employees are investing regularly, reinvesting dividends and choosing to remain shareholders after they receive their shares. That's creating the kind of long-term investing culture the UK is working to build."

Employees’ investment in SIP reaches record level

One of the clearest findings is the continued growth of SIP as a long-term ownership vehicle. Employees invested £520 million in partnership shares and reinvested a further £150 million in dividend shares - both the highest levels recorded since SIP was introduced in 2000. Industry analysis suggests this behaviour may reflect greater awareness of the tax advantages of reinvestment following reductions in the annual dividend allowance, as well as growing confidence among employee shareholders.

While some SIP data also points to higher withdrawals, this should be interpreted cautiously given changes in reporting coverage and the impact of corporate events.

Employees are becoming long-term investors

The data suggests employee share plans are serving a broader purpose than medium-term savings.

According to ProShare, 68% of employees exercising SAYE options retained all their shares rather than selling immediately. Meanwhile average SIP values per participant rose and monthly partnership share contributions increased, indicating continued employee commitment despite wider economic pressures.

"What stands out is that employees are increasingly behaving like long-term investors," Rudman added.

"We're seeing higher levels of dividend reinvestment, resilient contribution rates and more employees retaining shares after exercise. These schemes are helping build a culture of ownership and long-term investing across the workforce."

A proven route into retail investing that can go further

The findings come as policymakers and industry bodies look for ways to increase retail investment participation in the UK, including through the Retail Investment Campaign, "Invest for the Future".

Employee share plans should be treated as a core part of that agenda because they combine regular saving, financial education, tax incentives and a direct connection to company performance. HMRC estimates that employees were granted options or invested in shares to a value of £3.87 billion through tax-advantaged schemes during 2024-25 alone.

Equiniti believes the latest figures demonstrate that employee ownership should play a central role in future discussions about improving financial participation and broadening share ownership across the UK. Targeted reform of SIP and SAYE could help make these proven plans more accessible, more flexible and more relevant to today’s workforce, while supporting the broader objective of rebuilding the UK’s investing culture.

"The evidence is clear," said Ian Cox, CEO of Equiniti Share Plan Solutions.

"If the UK is serious about widening retail investment participation, employee share plans should be part of the answer. SIP and SAYE already give people a practical, trusted route into investing through the workplace. With targeted reform and better education, they could play an even bigger role in creating lifelong investors."

Detailed EQ analysis can be found on equiniti.com.

Contact

mediainquiries@equiniti.com

About Equiniti:

Equiniti delivers trusted data, intelligent insight, and seamless administration across the full equity ownership lifecycle. We help issuers, investors, and employees navigate complexity, strengthen market engagement, and achieve better outcomes through technology-powered solutions backed by expert service. Our 5,000+ global associates support more than 15,000 organizations and over 20 million shareholders worldwide. Learn more at equiniti.com, or connect with us on LinkedIn and X.

About Equiniti Share Plan Solutions

Equiniti Share Plan Solutions administers over 1.3 million share plan holdings across 130 countries worldwide. We turn equity into engagement - helping companies build ownership cultures their people understand, value and trust.

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