What is scale back?

[TrueBlueTerrier]

https://www.myroyalmail.com/news/nation ... ale-back-0" onclick="window.open(this.href);return false;

If SAYE is oversubscribed, we will need to scale back applications

Under Save As You Earn (SAYE), there is a limit to the total number of shares available when we grant them. The maximum number of shares available under SAYE is 15,000,000 (in other words, 1.5% of issued Royal Mail plc shares at the time SAYE launched).

If there is greater demand for the SAYE scheme than the number of shares available (it is oversubscribed), we will reduce (scale back) everyone’s application by the same percentage, unless this reduction takes you below the minimum savings amount. In this case, we would reduce your application to the minimum savings amount.

If you choose to only save the minimum amount every time you are paid, your application would not be scaled back.

Minimum and maximum amounts

Find out more about the minimum and maximum amounts you are able to save under SAYE by clicking here.

After this year’s award, we have no current plans to make other SAYE awards.

Remember: The share price can go down as well as up. Owning shares is not for everyone. You may want to get independent financial advice about owning shares. Royal Mail and the scheme administrator, Equiniti, cannot provide independent financial advice.

[Surreypostie]

What is SAYE?

[clashcityrocker]

Save As You Earn


3. Save As You Earn (SAYE)

This is a savings-related share scheme where you can buy shares with your savings for a fixed price.

You can save up to £500 a month under the scheme. At the end of your savings contract (3 or 5 years) you can use the savings to buy shares. The tax advantages are:
the interest and any bonus at the end of the scheme is tax-free
you don’t pay Income Tax or National Insurance on the difference between what you pay for the shares and what they’re worth

You might have to pay Capital Gains Tax when you sell the shares - but not if you put them into an ISA or pension as soon as you buy them.

[Max_Power]

Save As You Earn


3. Save As You Earn (SAYE)

This is a savings-related share scheme where you can buy shares with your savings for a fixed price.

You can save up to £500 a month under the scheme. At the end of your savings contract (3 or 5 years) you can use the savings to buy shares. The tax advantages are:
the interest and any bonus at the end of the scheme is tax-free
you don’t pay Income Tax or National Insurance on the difference between what you pay for the shares and what they’re worth

You might have to pay Capital Gains Tax when you sell the shares - but not if you put them into an ISA or pension as soon as you buy them.

You can only save up to £100 a month, it is for 3 years and there is NO bonus payment.
If you wish to transfer your savings in to shares at the end of the 3 years the price has been set at £3.60 per share.

[TrueBlueTerrier]

Looks like no scale back - if you access to the Equiniti ESP Portal there is a message for all that applied. I got what I asked for no reduction, everyone should be the same.

[Max_Power]

Looks like no scale back - if you access to the Equiniti ESP Portal there is a message for all that applied. I got what I asked for no reduction, everyone should be the same.

There is no message on mine, just checked, just the original details of my application from a few weeks ago.

[TrueBlueTerrier]

It was in my notifications, just under the banner for checking the value of your plans:

It said

Your new Sharesave application has been received for the scheme below.
Scheme: Frequency: Amount:
Royal Mail plc 2014 3yr Weekly £ X.XX

[feduppostie]

Mine too and I got what I asked for

[Max_Power]

It was in my notifications, just under the banner for checking the value of your plans:

It said

Your new Sharesave application has been received for the scheme below.
Scheme: Frequency: Amount:
Royal Mail plc 2014 3yr Weekly £ X.XX

Yes, I have that, but that was sent out weeks ago, if you check the date, it is just a confirmation that you have made an application of £xx.xx per week, it is not saying you have got it.
In fact I got my message on the 01/09/2014 when I made my application.

[Jefferson Starfish]

No messages on mine, although I did it the old fashioned way, by post.

[TrueBlueTerrier]

Sorry I was going by what someone posted on FB, and then promptly confused myself.

[Max_Power]

On the MyRoyalMail site it says "Demand has been high and we are processing final applications. More information on next steps will be available shortly"

I take it by that, that we will probably see some sort of Scale Back, today was meant to be the day that we were suppose to be informed if we were successful or not, but I guess we may have to wait until tomorrow or a few more days.

It does say on the timeline that:-

Thursday 25 September 2014 - Options likely to be granted

End October 2014 - Option certificates and welcome letters sent to those taking part in SAYE

Week beginning 3 November 2014 - Saving deductions from your net pay start if you are paid weekly

[Surreypostie]

I'd rather put any spare money in premium bonds to be honest, what is the yearly interest rate on this scheme?

[TrueBlueTerrier]

I'd rather put any spare money in premium bonds to be honest, what is the yearly interest rate on this scheme?

0%

[RobertT]

I'd rather put any spare money in premium bonds to be honest, what is the yearly interest rate on this scheme?

0%

There's no guaranteed interest rate on Premium Bonds either.