Redeeming my units

All redemptions of units are dealt with by Equiniti, who will inform AXA Epargne Enterprise of your redemption request. The redemption process is outlined below.

If your units have already matured and are held in either the AXA Direct Global Fund or the Actionnariat Fund you can redeem your units at any time. This can be done by completing the Redemption Request form and sending it to Equiniti at the address shown on the form and in the ‘How do I?’ section of this website.

The AXA Group Compliance and Ethics Guide includes an 'Insider Trading Policy' which prohibits certain persons who have regular access to material non-public information about AXA (“Access Person”) from trading on AXA securities during the 30-day period before its annual and half year earnings releases and during the 15-day period before its quarterly financial information releases. If you are an Access Person, as defined under such Insider Trading Policy, you are reminded that you are not allowed to trade AXA securities (including the sale of Shareplan units within the FCPE in which AXA shares are held) during the "blackout period" from (and including) July 2, 2019 to (and including) August 1, 2019. Should you have any questions regarding this, please contact Equiniti.
Redemption Process

Action

Traditional Plan

Leverage Plan

Redemption Request sent to Equiniti

Daily

Daily

Date of redemption and valuation

Redeemed daily, valued using the current AXA Share Price (within 1%)

Redeemed and valued twice a month, 15th & 30th/31st

For requests submitted before 15th of the month the redemption will take place at the end of the month.

For requests submitted after 15th of the month the redemption will take place on 15th of the following month

Redemption process

Redemption takes place, money transferred to the UK and paid direct to the participant by Equiniti.

Redemption takes place, money transferred to the UK.

For redemptions on an early release your personal Euro investment (following conversion to Sterling using the commercial exchange rate at the date of repatriation to the UK) will be paid directly to you by Equiniti and any gain made will be paid to you via payroll, with income tax and NICs deducted by your employing company and paid to HMRC through PAYE.

For redemptions at the end of the holding period, your personal Euro investment (following conversion to Sterling) will also be returned to you via payroll along with any gain. Your personal Euro investment is not subject to income tax and NICs.

Funds returned to employee

Up to 6 weeks from the date of redemption request

For redemptions on an early release your personal Euro investment (following conversion to Sterling) – up to 6 weeks from the date of the redemption request. Any gain on redemption of your units - up to 10 weeks from the date of redemption request.

For redemptions at the end of the holding period, your personal Euro investment and any gain will be returned to you in the August following maturity.

Income tax/NICs Implications

None at point of redemption, although Capital Gains Tax may need to be declared depending on personal circumstances

Any gain made will be paid to you via payroll, with income tax and NICs deducted by your employing company and paid to HMRC through PAYE.

This applies to current and former employees.



If your units are still within the five year holding period you can redeem your investment early if certain events occur. This is referred to as early release. An early release request can only be requested after the event.  In some cases time limits apply.

If a partial early release request is requested for one of the reasons below, further releases using the same reason from any Fund or another year's units will be rejected. One exit reason per early release is allowed. You may, however, be able to make an early release request for another reason.

There are no penalties for withdrawing from Shareplan early. For tax implications, please refer to the tax section of the 2018 Shareplan brochure.

Early Release Events

IMPORTANT - If a partial early release is requested for one of the reasons below, further releases using the same reason from any Fund or another year's units will be rejected. One redemption per early release reason is allowed. You may however, be able to make an early release request reason using one of the other reasons listed below.

Early Release Reason

Timescale

Documents Required

Marriage or civil solidarity pact (PACS) or other equivalent in your jurisdiction if relevant, such as in the UK, a civil partnership.

Up to 6 months after the event

Copy of certificate

Birth or adoption of a child when there are already at least two dependent children in the household.

Up to 6 months after the event

Provide copies of all birth/adoption certificates

Divorce, separation or dissolution of a civil solidarity pact provided that you are awarded sole or joint residential custody of at least one dependent child.

Up to 6 months after the event

Provide legal documentation awarding custody

Creation or purchase of a business or acquisition of a stake in a “SCOP cooperative enterprise” (an enterprise in which the employees hold the majority of the company’s share capital) or other equivalent in your jurisdiction, if relevant, by the participant, his/her children, spouse or PACS partner, or other equivalent in your jurisdiction if relevant, provided that they have management control.

Up to 6 months after the event

Copy of legal documentation evidencing event

The use of savings for acquisition, construction, extension with creation of new living space, of a primary residence, or repair of damage to same following the occurrence of a natural disaster defined as such by local authorities. *

* The redemption value must not exceed the value of the invoice for the work being carried out or the purchase price of the primary residence, if being bought.

Up to 6 months after the event

Completion statement with financing agreed and signed by solicitor

For extension, a copy of the builders invoice

Disability with permanent or temporary impossibility to carry out a professional activity of the participant, his/her children, spouse or PACS partner or other equivalent in your jurisdiction if relevant.

Any time after the event

Medical certificate

Death of the participant, his/her spouse or PACS partner, or other equivalent in your jurisdiction if relevant.

Any time after the event

Death certificate/probate

Termination of employment or term of office of the participant.

Any time after the event

This will be verified by your old payroll

Over-indebtedness of the participant as recognised by the relevant local authority.

Any time after the event

Legal documentation to evidence indebtedness, in the form of: (i) an IVA; (ii) a bankruptcy order; or (iii) a debt relief order.

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