Recently the enhancement of the Randstad Share Purchase Plan per the 1st of November 2024 was announced. You may already have heard of it via your local HR department. The enhancement of the Plan will result in a couple of changes, not only the way you benefit from the Plan but also in choices you can make and actions you will need to take. To prepare you for these changes, we will explain the most important changes for your savings of the current saving period and the way your savings will return in your tOption account and how they will enhance your benefits.
Depositing of savings per November 1, 2024
All savings of the current saving cycle, from May 2024 until October 2024 inclusive, will be deposited per the 1st of November 2024. If you finish your first saving cycle, we will create a tOption account while processing all deposits. We will need about one week to process the deposited savings and have them available in your tOption account.
You will receive an email from us, informing you of the completion of the deposit. Under the enhanced SPP, you are not required to invest your savings in shares. However, if you want to keep your savings in cash, you must take additional action. The email will hold instructions on how to opt-out of the automatic share purchase. You will have one week to opt-out entirely or partially. You can either withdraw your savings to your personal bank account or cancel the purchase and leave your savings in your tOption account, which will not earn interest. If you do not opt-out, your savings will be automatically invested in shares. To prevent excessive cash accumulation, savings not used for purchasing shares will be refunded after 12 months.
Cash Top-Up
Depositing savings into your tOption account grants you a conditional cash Top-Up of 100%. This Top-Up is blocked for six months and gets unblocked if you are still employed at the end of the six months blocked period, which is 30 April 2025. You are entitled to the Top-Up regardless of whether you have withdrawn your own savings or sold your shares before the end of the six months blocked period. The Top-Up in May 2025 will be 100% of your savings amount, but may vary in the future, depending on the future income of Stichting Randstad Optiefonds, who operates and funds the SPP.
(Additional) Bonus Shares
Per the 1st of November, 50% bonus shares will be granted to participants who bought shares on May 1, 2024, who are still employed by the company and holding their shares on October 31, 2024. Also 50% additional bonus shares will be granted to participants who purchased shares on November 1, 2023 and are still employed by the company and still hold their shares on October 31, 2024.
The last series of 50% additional bonus shares will be granted on May 1, 2025 to participants who purchased shares on May 1, 2024 and are still employed by the company and still hold their shares on April 30, 2025.