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Cost of living: Consumers urged to take up workplace perks

An estimated 10 million workers have access to discount shopping programs through work but may rarely use them, the research found.

Almost two in five employers (38%) told consultancy LCP that they offer retail discount programs to their employees.

With the cost of living rising at its fastest pace in decades, the LCP says more people should take advantage of these offerings.

It suggested that some may find the savings too small, but the money spent on groceries could accumulate over time.

Heidi Allan, Senior Consultant at LCP, said: “Many workplaces offer employee discount programs that allow for savings on everyday purchases from well-known businesses such as supermarkets, coffee shops, mobile phone companies and travel companies.

“But in some cases workers may not be aware of the program or think it is not relevant to them. The truth is that we are all going to face pressure on our budgets in the coming months and every penny we can save is going to help.”

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Grocery prices have risen and are expected to rise further, and some employers offer programs that give a small percentage discount on reloadable shopping cards or loyalty points.

People may need to sign up for gift cards and vouchers and get used to using them, but LCP suggests savings could help family finances over time.

The survey found that an additional 27% of employers are considering introducing such programs in the next 12 months.

The government-backed Money and Pensions Service, which operates the MoneyHelper website, has encouraged employers to review their employee support plans. Included programs can range from assistance with travel expenses to insurance, with costs often being deducted from pre-tax wages.

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