Staff at Tesco are in line for an £83m payout this month from the company's Save As You Earn scheme. Savers have invested between £5 and £250 every month in three and five year savings plans. They are due to receive news of payouts in the coming week. At an average saving of £26 on the three year scheme, staff would receive 1,581 shares worth £1,917. If they had invested the same amount over the five year period, they would benefit to the tune of £4,564. Staff investing the maximum amount of £250 per month for the last five years will have seen their savings rise to just under £44,000. The Save As You Earn scheme works by giving savers options to buy shares at a discounted rate. Staff investing for the duration of the savings scheme will also receive a bonus payment to top up their savings. This is equivalent to nine monthly payments if they saved in the five year scheme, and three months' pay for the three year term. When the scheme matures, they are offered the option of buying Tesco shares at a discounted rate. Tesco chief executive Terry Leahy said: "The Tesco SAYE scheme has enabled over 55,000 of our staff to share in our success. "With every employee able to participate in the SAYE plan after one year's service, it is the best scheme of its kind, and is further proof of how Tesco retains its staff." {{NEWS }}

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