The Tops & Aspire Employee Trust has been established in order for colleagues to support each other, and the community, through time of financial or emotional hardship.
What is a trust?
A trust is a financial agreement between three parties; the ‘settlor’, the ‘trustee’, and the ‘beneficiary’. The settlor is the person/people who put money into the trust. The trustee is the person/people who manage the money, and the beneficiary is the person/people who benefits from the trust.
For more information about Trusts, have a look at gov.uk
What can the Trust be used for?
The Trust was set up to aid colleagues struggling through hardship, regardless of the reason why. Some examples of difficulties we could help with include financial hardship, life-changing circumstances, compassionate payments towards bereavement costs, life threatening health issues, equipment for a disabled child or partner, emergency costs such as housing or injury, additional training costs, food parcels, or to enable a break from work. The Trust can also be used to support a charity or cause close to a colleague’s heart. Anyone can apply for funds, and all applications get voted on by a subcommittee of colleagues.
How does the Trust work?
The Trust is a really a simple idea. Colleagues opt to donate to the Trust fund on a monthly basis. A staff member suffering hardship, whether financial or emotional, fills in an application to benefit from the fund and the subcommittee votes on applications. The application(s) with the most votes gets given funds from the Trust… that’s it. Super simple, and highly effective!
Who is involved?
All colleagues above the national minimum wage are given the opportunity to support the Employee Trust through a monthly wage reduction. As well as starting the Trust off, the company will match all colleague donations.
Applications to benefit from the Trust are voted on by a subcommittee, overseen by Maria Thomas-Luker (Director of Central and Customer Services) and Charlotte Percival (HR Director). Any colleague who donates to the Trust is offered the ability to attend the subcommittee and cast their vote on applications.
“…the Tops & Aspire Employee Trust is a great idea. So hats off to whoever thought of it. To think that I could potentially help out a colleague in need or a good cause by donating in this way is lovely.”
‘Just wanted to say what a wonderful thing the Tops & Aspire employee trust can do. And what an amazing company to work for. I’ve recently sent an application to the employee trust and within a matter of days I was granted some money. This will massively support me during this hard time so thank you, I really do appreciate it.’
‘I was unsure at first about accessing the Employee Trust Fund because I thought it might be a difficult process but actually it was so simple. It was so nice to get some additional support and I felt like the company was there for me when I needed it the most.’