Savings direct from payslip?

[Cleaver96]

Looking for some help! When I worked for RM, I remember paying into a savings account directly from my wage, for a brief period. Unfortunately that is all that I know. My initial thought was that it’s some kind of Post Office savings account? If anyone currently does/did this, please let me know the provider or how I might find access to my money. If it’s any significance at all, I worked at RM from 2019-2023 and I think I paid into around £25 a month. THANKS IN ADVANCE!

[Smoothbackground]

Penny Post? Commsave?

[Baggaz]

Hi,

Foresters Financial/POIS is roughly £25 a month and is deducted from your pay.

Website: www.pois.co.uk

Hope this helps

[Valentina@1]

Hi,

Foresters Financial/POIS is roughly £25 a month and is deducted from your pay.

Website: www.pois.co.uk

Hope this helps

No longer available through payroll,they’ve fallen out with RM

Another thing taken away from us

[barcajr]

I save with Commsave, got 4 per cent interest, wich is better than most Bank accounts

[HarrySutton111]

Hi,

Foresters Financial/POIS is roughly £25 a month and is deducted from your pay.

Website: www.pois.co.uk

Hope this helps

No longer available through payroll,they’ve fallen out with RM

Another thing taken away from us

Thanks for posting that, I knew nothing about it, I pay each week into them, I'll have to set up a direct debit

[Downeagle]

Some years ago a union rep came in with someone from 1st Class Credit Union based in Glasgow (I’m not in Scotland), I’m still paying in £10 a week from my wages into this account.

[world class male]

i've used commsave for years, just £10 pw mainly for help at xmas or holidays and never notice the deduction from wages,
when that bug thing happened a few years back i'd not even checked on balance
logged in last autumn an £1500ish was in it that i'd forgot about

[Baggaz]

This isn't Gospel but I believe it's down to an upcoming change in HMRC which affects the payroll deductions. In addition, I understand there will be a letter notifying this change which should arrive on or around the 16th of this month with further instructions about the direct debit.

Sorry, forgot to mention that the direct debit will be monthly rather than weekly.

[world class male]

This isn't Gospel but I believe it's down to an upcoming change in HMRC which affects the payroll deductions. In addition, I understand there will be a letter notifying this change which should arrive on or around the 16th of this month with further instructions about the direct debit.

Sorry, forgot to mention that the direct debit will be monthly rather than weekly.

commsave deductions are taken off net pay so nothing to do with the taxman, it's only like putting it under the mattress but without the couple o quid interest, it isn't a tax break like the "mydrive" scheme

[Dave90]

It’s the foresters friendly society I’m with, they’re pestering me to set up a direct debit. Can I just withdraw what I’ve saved and close it?

[Clappedoutpostie]

It’s the foresters friendly society I’m with, they’re pestering me to set up a direct debit. Can I just withdraw what I’ve saved and close it?

Yeah if u pay the early release fee.