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Maturing Tessas surge expected

The Inland Revenue estimates that out of a Tessa market worth around £30bn, £21bn is expected to reach maturity in 2001, more than two thirds of it before the end of April, according to Hargreaves Lansdown.

Tessas have been maturing since 1996, but those who started Tessas in early 1991 and rolled over the maximum £9,000 into a follow-on Tessa can expect to receive between £12,000 and £16,000.

Most people are expected to reinvest maturing Tessa funds.

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