SAYE Cancellation - No Brainer?

Gilbert

The shares in my company have plummeted recently due to legal action carried out by the Attorney General in New York.

At the moment, I am investing £250 per month in a variety of SAYE schemes and had originally intended to buy the shares at the end of the various 3 year terms. However, the price is now only about 60% of the "offer" prices that I will be able to buy them at.

I am pretty sure that I should cancel the savings scheme and get my money back. I will then have the option of  using that fund to buy more shares now (because of the depressed price) than I would be entitled to purchase at the end of the term or investing the money elsewhere.

Even if I maintained the savings plan to the very end, there is almost no chance now that the price will have risen to make a purchase worthwhile. I know there are bonus payments that would be added, but I would be able to get a better return if I invest the money elsewhere.

I also have the added benefit of having an extra £250 in my pay packet each month.

Have I missed anything obvious and should I keep going?
I can't think of a good reason to persevere with the plan at the moment but would be interested to hear from anyone who thinks otherwise.

Thanks  

dunstonh

SAYE schemes vary so some options may be available to you or not.

Often, there is an option at the end of the term to buy shares at the offer share price or take the option as cash and interest instead.

Robert_Sterling_3

This might help you to decide