Saye

Chelseablue · Post by **Chelseablue** » 31 May 2017, 15:14

Hi, just stopped saye scheme ,does the money that came off weekly from your wage stop automatically or do i have to see payroll to stop it still coming off each week ?. Thanks

Post by **RobertT** » 31 May 2017, 15:24

The savings term ends in 2 months time(week beginning 31st July 2017), assuming you haven’t taken any payment holidays. Seems a bit strange to get this far and stop!

All the info is in the booklet we all received. It’s online here: https://www.myroyalmail.com/all-documen ... %20RES.pdf" onclick="window.open(this.href);return false;

Chelseablue · Post by **Chelseablue** » 31 May 2017, 15:38

Thought it was dec 2017 , the money will come in handy at this moment in time. Ive no touched my shares at all tho .

Post by **RobertT** » 31 May 2017, 15:48

When does the savings term start and finish?

Your savings term will start on 1 December 2014 and will normally end on 1 December 2017, unless you have taken a payment holiday (see page 17 for more information on payment holidays).
If you are paid weekly, saving deductions from your net pay will start in the week beginning 3 November 2014. If you are paid monthly, saving deductions from your net pay will start on 28 November 2014.
If you are paid weekly, saving deductions from your net pay will stop in the week beginning 31 July 2017 (unless you take a payment holiday).
If you are paid monthly, saving deductions from your net pay will stop on 31 October 2017 (unless you take a payment holiday).
If you are paid weekly, you will usually finish your saving deductions before those paid monthly in terms of payments made into the scheme. This is because you will pay an extra four weeks’ worth of payments every calendar year (because of five-week months).

When can I buy my shares?

You can buy your shares (exercise your option) within six months of the end of the savings term. The
savings term will normally end on 1 December 2017, if you have not taken any payment holidays. Your opportunity to buy shares at the option price will automatically end if you do not choose to buy your shares within six months of your savings term ending. Equiniti will write to you with full details when your savings term is due to end.

Chelseablue · Post by **Chelseablue** » 31 May 2017, 15:54

Aw well once again ive maybe been an idiot .

Chelseablue · Post by **Chelseablue** » 31 May 2017, 16:11

Cant go back now eh?

kingeric · Post by **kingeric** » 31 May 2017, 17:54

Am I reading that correctly. We can buy (then sell) these shares from July 31st?

I was under the impression it was October/Nov when we could buy them despite it being July when the last payment was due.

Post by **RobertT** » 31 May 2017, 18:20

kingeric wrote:Am I reading that correctly. We can buy (then sell) these shares from July 31st?

I was under the impression it was October/Nov when we could buy them despite it being July when the last payment was due.

I think the quote I posted clearly says we can buy the shares from 1st December 2017!

Glenno · Post by **Glenno** » 03 Aug 2017, 18:12

If you are paid weekly, saving deductions from your net pay will stop in the week beginning 31 July 2017 (unless you take a payment holiday).

Maybe I might be expecting a big ask, but when I opened my payslip today I expected the deduction for SAYE not to be on there, but there it was loud and proud, or is it gonna stop next week, anybody got a clue

Post by **nataddick** » 04 Aug 2017, 09:03

I believe the SAYE weekly payment is due to end on 18 August. I pay in the equivalent of £59 p.m. for 36 months making a total of £2,124 which when converted to a weekly sum of £14.75 (the maximum) would mean a deduction over 144 weeks. This is 12 weeks before the 3 year period is up. Not sure of the start date, it may have been later than originally appeared in the documentation. My savings as of today's date are £2,094.50.

Therefore, there are 2 more payments of £14.75 to go before reaching the £2,124 limit.

Post by **RobertT** » 04 Aug 2017, 14:13

Weekly paid employees started to pay their SAYE contributions in the week commencing Monday 3rd November, 2014.

The saving period is 144 weeks, assuming no payment holidays.

Therefore the last week that SAYE payments should be paid is the week commencing Monday 31st July, 2017. Which is this week.

Glenno · Post by **Glenno** » 04 Aug 2017, 19:30

Cheers for the replies peeps

Post by **nataddick** » 04 Aug 2017, 20:30

Springs to mind the old adage 'If you are not confused you don't understand the problem' !!

Checked my own RM SAYE account this morning, balance as per post £2,094.50 - just checked it a few minutes ago and now £2,109.25. There is a little ' i ' box that when opened states :- This amount may not include payments made within the past month.

I regularly use various websites to calculate difference between two dates - so is 07/11/2014 to 04/08/2017 143 weeks or 144 weeks ?

Just checked using excel (date plus 7) and copied down 144 times and result is it ends 04/08 !

Alexei · Post by **Alexei** » 08 Aug 2017, 18:20

nataddick wrote:I pay in the equivalent of £59 p.m. for 36 months making a total of £2,124 which when converted to a weekly sum of £14.75 (the maximum)

Rubbish. I applied for the maximum of £25 p/w , but due to popularity, it was reduced to £11.75 ... so less than half what i wanted originally. Not too happy about this.

datasaint · Post by **datasaint** » 08 Aug 2017, 20:24

Alexei wrote:
nataddick wrote:I pay in the equivalent of £59 p.m. for 36 months making a total of £2,124 which when converted to a weekly sum of £14.75 (the maximum)
Rubbish. I applied for the maximum of £25 p/w , but due to popularity, it was reduced to £11.75 ... so less than half what i wanted originally. Not too happy about this.

The maximum was £20/w, £14.75 was the amount it was reduced to.

The share price will be naff all over the option price by the time we can buy them anyway, so I don't know why you're bothered.