A happy birthday for Tessa holders

Billions of pounds worth of Tessa money is set to mature this year as the popular tax-free savings plans reach their tenth birthday. Millions of savers will be reaping the benefits. 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. Tessas are maturing all the time, but the beginning of this year is special. The first savers who signed up in early 1991 will be coming to the end of their second five-year term, and those who rolled over the maximum £9,000 into a follow...