POIS deductions to stop

[Wullie10]

From 31st March POIS savings plan payroll deductions will finish. As from 1st April all payments must be made via direct debit

[manboss]

Yeah, i got the letter today, i thought the whole point of going through your wages was related to being tax free, i wonder how it works now?

[Wullie10]

The Pois saving plan through wages was never a tax efficient scheme , in that the amount was deducted after tax was paid. The tax free element you are talking about is anyone can save a set amount each year into a Tax exempt plan through friendly society's which Pois is.
I still have no idea why they stopped it . Probably the company trying to save money ? It's not a big deal but was a great way of saving for people such as me who don't have the discipline to save normally.
There's a Penny Post credit union that also is deducted from wages. I'm still saving with them so hopefully that will continue.

[richj2009]

It's obviously linked to the takeover. They're clearing the decks. I too pay into foresters. Like you say useless at saving