Sharesave advise needed

financial_illiterate

chris_m wrote: »

we can't stop one early to free up saving entitlement for a later scheme anyway.

Really? I can with mine, you get the money saved back with no bonus and the clock starts ticking again.

I've just cashed all mine in as I'm leaving the company, I've started four schemes in five years and seen none through to maturity!

RobLondon1984

financial_illiterate wrote: »

Really? I can with mine, you get the money saved back with no bonus and the clock starts ticking again.

I've just cashed all mine in as I'm leaving the company, I've started four schemes in five years and seen none through to maturity!

How comes you're not staying at the company until your schemes matures, earn a profit, then leave?

financial_illiterate

Because there is more to life than money, and I will be happier elsewhere

chris_m

financial_illiterate wrote: »

Really? I can with mine, you get the money saved back with no bonus and the clock starts ticking again.

We used to be able to as well, it's something that appears to be at the discretion of companies rather than an HMRC rule. We used to be able to cancel and get our cash back plus any interest if it had been running for more than 12 months.

Our SP was heading south until a couple of years ago and we're a very big company. I think they got fed up with every new scheme resulting in thousands (or ten of thousands) of cancellations and restarts to be processed so they changed the rules. Now, if you cancel one, the saving amount isn't freed up until the end of the original contract period.

Mind you, even if we were still allowed to do it I wouldn't with the current schemes I've got running - not with option prices around 1/3 of the current SP

jak1977

it's maybe worth noting that the option price is usually discounted compared to the market price at the start of the scheme giving you a bit of a head start.

I'd agree with the opinion that its a no brainer, the potential upside is huge compared to the risk (inflation only)

MoneySaverLog

jak1977 wrote: »

I'd agree with the opinion that its a no brainer, the potential upside is huge compared to the risk (inflation only)

Yes it's the only time when I really want our own company share price to drop in value temporarily, so that we can get in at a better option price.

Unfortunatly it's gone the wrong way so far, good of cause if you already hold shares in National Grid, but not if you're looking to invest in the next sharesave which I know usually details are sent out around now.