IRISH PROSHARE ASSOCIATION
As part of our longterm relationship with the Irish ProShare Association (IPSA), 4TC highlighted an issue that is of significant importance to Ireland’s business, banking and political communities.
It followed Ulster Bank’s decision to withdraw from the Irish market, which put at risk the future of one of Ireland’s most popular employee share schemes.
Save As You Earn (SAYE) is a Revenue-backed share scheme that has financially benefitted tens of thousands of ordinary Irish workers by letting them save salary in a tax efficient manner to buy shares in the companies they work for. However, only Ulster Bank accepted SAYE savings accounts and when it left Ireland, SAYE would be rendered non-viable unless another lender stepped in.
The loss of SAYE would have been a major blow to many Irish companies and IPSA, which advocates for increased employee share ownership in Irish business, wants the Government to safeguard SAYE.
4TC worked with IPSA to bring this important issue to the business community, legislators and general public alike. We distilled the technical complexities of SAYE and the legislation around it to create and communicate a clear and accessible story, before approaching specific media and preparing our client for interview.
The outcome was coverage which communicated the parlous situation and the raising of awareness in government and the financial services sector about what was at stake.
In 2024, it was announced that AIB would enter the market as a savings carrier for SAYE.
