Got my SAYE letter today.....

[dazzlin72]

The SAYE scheme seems a bit of a con to me, you arn't guaranteed to be able to buy shares if oversubscribed, & also if you wanted shares, you'd have got them first time around. Also, you don't make any interest, or dividend,etc so what's the point? Better to start adding the extra into your pension contributions instead. That way at least what you put in, the business have to put in also.

[RobertT]

The SAYE scheme seems a bit of a con to me, you arn't guaranteed to be able to buy shares if oversubscribed

Everyone who wants to take part in SAYE will be able to, although the amounts may be reduced.

& also if you wanted shares, you'd have got them first time around.

I bought some shares last October & have signed up to SAYE too. Whether I actually buy any will depend on the price at the time.

Also, you don't make any interest, or dividend,etc so what's the point?

I agree with you about the interest but as rates are so low, personally I think it's worth a punt.

Better to start adding the extra into your pension contributions instead. That way at least what you put in, the business have to put in also.

If you pay more in pension contributions you will benefit from tax relief, so a £10 per week payment will effectively only cost £8. But whether you get any extra contributions off RM will depend on which pension scheme you’re a member of. Basically only members of the defined contribution plan will get any extra and that assumes they’re not already paying the maximum.

A possibility for RMPP members might be to pay into SAYE for the 3 years, buy shares if it’s advantageous, sell straight away or if the price isn’t very appealing just withdraw your money and put it into a pension/AVC and take the tax relief then instead.

[wacko74]

I already bought £3000 worth any way so am giving it a miss

I bought £8,000 worth of shares and sold them for £5.61 per share at the end of January,so I made a very nice earner.Buying now is madness IF and a BIG IF you make anything it will be peanuts,royal mail is only going one way and its not up.(19 years service).

You sold £8,000 worth at only £5.61 when if you'd held your nerve you could have got £6.18? You must be really kicking yourself for bottling it.

[ratchet]

I already bought £3000 worth any way so am giving it a miss

I bought £8,000 worth of shares and sold them for £5.61 per share at the end of January,so I made a very nice earner.Buying now is madness IF and a BIG IF you make anything it will be peanuts,royal mail is only going one way and its not up.(19 years service).

You sold £8,000 worth at only £5.61 when if you'd held your nerve you could have got £6.18? You must be really kicking yourself for bottling it.

Hindsight is always 20/20

[Jefferson Starfish]

I already bought £3000 worth any way so am giving it a miss

I bought £8,000 worth of shares and sold them for £5.61 per share at the end of January,so I made a very nice earner.Buying now is madness IF and a BIG IF you make anything it will be peanuts,royal mail is only going one way and its not up.(19 years service).

You sold £8,000 worth at only £5.61 when if you'd held your nerve you could have got £6.18? You must be really kicking yourself for bottling it.

Depends if they were sold on the way up or the way down.

[derricksmyth]

The SAYE scheme seems a bit of a con to me, you arn't guaranteed to be able to buy shares if oversubscribed

Everyone who wants to take part in SAYE will be able to, although the amounts may be reduced.

& also if you wanted shares, you'd have got them first time around.

I bought some shares last October & have signed up to SAYE too. Whether I actually buy any will depend on the price at the time.

Also, you don't make any interest, or dividend,etc so what's the point?

I agree with you about the interest but as rates are so low, personally I think it's worth a punt.

Better to start adding the extra into your pension contributions instead. That way at least what you put in, the business have to put in also.

If you pay more in pension contributions you will benefit from tax relief, so a £10 per week payment will effectively only cost £8. But whether you get any extra contributions off RM will depend on which pension scheme you’re a member of. Basically only members of the defined contribution plan will get any extra and that assumes they’re not already paying the maximum.

A possibility for RMPP members might be to pay into SAYE for the 3 years, buy shares if it’s advantageous, sell straight away or if the price isn’t very appealing just withdraw your money and put it into a pension/AVC and take the tax relief then instead.

In the RMPP, and RM will only put in extra contributions under the Bonusplan scheme . It only allows you to put in £150 extra a year and RM put about another £50 on top. Would love to open a defined pension as well but you can't be in RMPP and open a RM defined pension as well as its only opened to staff who joined after 2008.

[RobertT]

In the RMPP, and RM will only put in extra contributions under the Bonusplan scheme . It only allows you to put in £150 extra a year and RM put about another £50 on top. Would love to open a defined pension as well but you can't be in RMPP and open a RM defined pension as well as its only opened to staff who joined after 2008.

There's nothing stopping you from having a Flexiplan via RM or opening a personal pension, stakeholder or SIPP, all would benefit from tax relief although non gets any employer contribution.

[thehobbit]

Hi. You buy shares, after the three years,with the money you've saved.

i have given it a go ,but realisticly do not expect to be here in 3 years to claim them , not even sure if Royal mail will be around , but as i can get my cash back ,and as been mentioned interest rate are so low it must be worth a punt

[Buzzcock]

& also if you wanted shares, you'd have got them first time around.

This isn't true at all. To buy shares first time round you had to have lots of money in savings. This way all you need is one pound twenty five a week and we've all got that.
I'm going to go for the full whack which will be a struggle but potentially it's the best chance I've ever had to get some money saved. Even if it doesn't make a profit it's money I wouldn't have saved. I've never saved owt in my life and it's about time I did.

[krussel]

I tried on the website and they said they would email a code. It never turned up so now they sent me one through the post. Wait and see if that makes it .

[RandyBeanz]

How much are people putting into it a week? Ive decided £10. Could afford more but don't really know the ins and outs of it

[Rommagic]

£10 a week,we get a pay rise in April then it will pay for itself.

[maximus12]

& also if you wanted shares, you'd have got them first time around.

This isn't true at all. To buy shares first time round you had to have lots of money in savings. This way all you need is one pound twenty five a week and we've all got that.
I'm going to go for the full whack which will be a struggle but potentially it's the best chance I've ever had to get some money saved. Even if it doesn't make a profit it's money I wouldn't have saved. I've never saved owt in my life and it's about time I did.

Very good way to look at it, i'm also going for the £25 a week, if it makes money brilliant, if it doesn't i get the money back. As far as risks in share dealing go, your not going to get a better one than that!