Sharesave

EQ will need to know your nationality and National Client Identifier (NCI). If you’re a UK national, this is your National Insurance number, which we already have. So we do not need anything else from you.

If you’re a non-UK national, or hold dual nationalities, you’ll need to provide the NCI for your non-UK nationality, which will typically be your passport number or national/personal identity number. If you’re unsure about which NCI you need to provide, please go to the Nationality Calculator.

For every payment missed, the Maturity Date of your Plan will be deferred and you’ll continue to have deductions taken from your pay until you’ve completed your savings Plan contract duration.

Your Sharesave 2021/22 three year maturity email will show your Maturity Date. If your Maturity Date is after 30 September 2025, you won’t be able to select choice two or choice three as you won’t have completed your savings Plan before the exercise and sell service and the ISA transfer facility closes.

No, the Plan rules do not allow you to transfer your savings from this Plan to a new Plan.

You can transfer your shares to an EQi Flexible Shares ISA (Individual Savings Account) at the same time you give an instruction to buy shares at the Option Price of 725.40p. There is no charge for transferring shares into the ISA, however there will be ongoing custody charges and commission on trades.

If you select choice four and take back your savings, you still retain the right to purchase shares at the Option Price for six months following your Maturity Date. Please be aware that if you change your mind and want to exercise your option, you must do so within six months of your Maturity Date, otherwise your option will lapse and you won’t be able to purchase shares. If you wish to return your savings, you’ll need to contact the EQi Customer Experience Centre on +44 (0)371 384 2014, Monday to Friday (excluding public holidays in England and Wales) between 8:00am and 5.30pm (UK time).

The National Grid share price can be found at nationalgrid.com/investors/share-price-and-returns-centre/london-stock-exchange.

If you use your savings to buy National Grid shares at the Option Price of 725.40p, the price and value of any investments and any income from them can fluctuate and fall.

Your savings were taken from your pay after Income Tax and National Insurance has been deducted, so you won’t pay any more tax when you either have your savings repaid or use your savings to buy National Grid shares.

If you decide to buy National Grid plc shares at the Option Price of 725.40p, you may have to pay Capital Gains Tax when you sell your shares if your total gains for the tax year exceed the capital gains exemption is currently £3,000 in 2024/25 tax year.

If you want to know more about this, you should contact an authorised financial adviser.

If you decide to transfer shares to an EQi Flexible Shares ISA – and you have an existing Stocks and Shares ISA with another provider – you can ask to consolidate your shares in one place, under one ISA provider.

If at the time your instruction to buy National Grid shares at the Option Price of 725.40p is due to be processed the share price is below the Option Price, your instruction will not be processed. We will monitor the share price to see if your exercise instruction can be processed in the following two weeks. If the share price continues to remain below the Option Price, your exercise instruction will be cancelled and EQ will send you an email advising you on the next course of action. In this situation your option remains exercisable for the remainder of the six month period following your Maturity Date.

Every year, HM Treasury decide whether they’ll offer a tax-free bonus to Sharesave Plans. There is currently no bonus available on the maturing Plan.