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ANSWER 25th February 2010

Hi Barney

I assume you are referring to a Savings Related Share Option Scheme?

This is where yo agree to pay a fixed and pre-determined sum of money from your salary into a savings account. At the end of the period you have the choice of withdrawing your cash or buying shares in your employers company (usually by way of exercising an option granted at the beginning of the scheme). Usually a win-win situation: If the options are under water you take your cash with the accumulated interest. If the shares are more than the price at which the option was struck you take shares and either keep them or sell them and bank the instant profit.

I think the scheme will end if you leave the company. Otherwise it will run for  the specified period, which I believe is three years (also five year schemes with option to extend further two years).

Some of these schemes have on-line registration where you can check your own current scheme .

If not I suggest you contact your HR Department (or ask your boss).

I hope this is what you are talking about!