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  • FIRST POST
    • Mackle
    • By Mackle 14th Oct 16, 10:12 AM
    • 51Posts
    • 4Thanks
    Mackle
    SAYE schemes post-redundancy
    • #1
    • 14th Oct 16, 10:12 AM
    SAYE schemes post-redundancy 14th Oct 16 at 10:12 AM
    Good morning,

    I was made redundant recently, and had been participating in a SAYE scheme for the past three years.

    A letter from the SAYE administrator has come through the door containing amongst other things, a direct debit form so that I can continue to save money in to the SAYE scheme. There doesn't seem to be anything advising on whether the option price is still valid for any new amount I save in.

    Also, I was on a three-year plan rather than five or seven, and my three years actually reached maturity on 01/09/2016 so don't know how this affects things?


    Finally, if I carrying on contributing in to SAYE, what happens if I join a new organisation that also offers SAYE? Can I have both running together? Do I have to close the old one before signing up to the new employers? And would it purely be a matter of looking at the option prices and forecasts for both shares, or when it comes out of salary at source is it more tax efficient than transferring later?
Page 1
    • xylophone
    • By xylophone 14th Oct 16, 10:19 AM
    • 19,142 Posts
    • 10,861 Thanks
    xylophone
    • #2
    • 14th Oct 16, 10:19 AM
    • #2
    • 14th Oct 16, 10:19 AM
    Is the administrator aware that you have left the company?

    I'd suggest you telephone to clarify.
    • Mackle
    • By Mackle 14th Oct 16, 4:10 PM
    • 51 Posts
    • 4 Thanks
    Mackle
    • #3
    • 14th Oct 16, 4:10 PM
    • #3
    • 14th Oct 16, 4:10 PM
    Is the administrator aware that you have left the company?

    I'd suggest you telephone to clarify.
    Originally posted by xylophone
    Yes they are aware that I have left, it's to enable me to continue participating with the scheme now that I can't SAYE directly from my former employers payroll, hence a direct debit form.
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