My Mrs would actually divorce me, if I shaved it off. She insists that I hold onto it, and keep growing it. She shaved my head hast night, and trimmed the beard up a bit. Just evened up the longer bits. Mine seldom annoys me, even in summer.
I recon tying it up will help mate. Even putting some oil through it would probably help, but doubt you'd be bothered with that. Either way, it'd be a shame if you had to get rid of it.