My shares after retirement.

Post by **windermeredave** » 28 Oct 2016, 17:16

I`m sure it`s been covered on here before, but to save the hastle of searching I will ask the question again. please forgive me.

I intend to retire at Christmas, this will make me a good leaver, I understand that I will recieve a letter giving me the option of selling my shares.free of tax and NI payment.
If the share price is not to my liking I think I may want to keep hold of them for a while.
Because they are employee shares , and I will no longer be an employee is keeping them an option. or will I be forced to sell?

Cheers in advance.

Post by **Theghost** » 28 Oct 2016, 17:22

windermeredave wrote:I`m sure it`s been covered on here before, but to save the hastle of searching I will ask the question again. please forgive me.

I intend to retire at Christmas, this will make me a good leaver, I understand that I will recieve a letter giving me the option of selling my shares.free of tax and NI payment.
If the share price is not to my liking I think I may want to keep hold of them for a while.
Because they are employee shares , and I will no longer be an employee is keeping them an option. or will I be forced to sell?

Cheers in advance.

Your shares are released from being conditional or locked,You can keep them and sell them at anytime tax and NI Free once you have retired.
You need to get on to HR and they inform Equiniti who do the rest.

Post by **windermeredave** » 28 Oct 2016, 19:09

Theghost wrote:
windermeredave wrote:I`m sure it`s been covered on here before, but to save the hastle of searching I will ask the question again. please forgive me.

I intend to retire at Christmas, this will make me a good leaver, I understand that I will recieve a letter giving me the option of selling my shares.free of tax and NI payment.
If the share price is not to my liking I think I may want to keep hold of them for a while.
Because they are employee shares , and I will no longer be an employee is keeping them an option. or will I be forced to sell?

Cheers in advance.
Your shares are released from being conditional or locked,You can keep them and sell them at anytime tax and NI Free once you have retired.
You need to get on to HR and they inform Equiniti who do the rest.

I was under the impression that they would contact me rather than the other way round

Poshpost · Post by **Poshpost** » 29 Oct 2016, 14:56

Having read "Guide to the Royal Mail SIP 2016 Free Shares Offer", Page 9 entitled "What Happens if I leave Royal Mail" it states that if you retire from Royal Mail (aged 60 or over) the Trustee will take your Free Shares out of the SIP. Further, it says "If you give no instructions, your shares will be sold by Equiniti who will take off any costs (commission) relating to the sale of your shares before sending you the money made from selling them" So, if you wish to retain all or any of your shares following retirement you must instruct Equiniti to transfer the shares to you for you to continue to hold outside the SIP.