TCS: BAYE Scheme | KPMG | UK

Tesco Compensation Scheme: BAYE Scheme

TCS: BAYE Scheme

Tesco have developed a process with the BAYE scheme trustee, Equiniti, in which they will make a claim on your behalf.

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If you are or were a Tesco employee and purchased shares through the Tesco Buy as You Earn (BAYE) scheme during the relevant period then you will be eligible for a claim. However, due to the restricted number of shares available to be purchased by each individual colleague through the BAYE scheme in the relevant period, the maximum claim value that an individual may have is £11.76 (excluding interest and deductions for tax). As a result, Tesco have developed a process with the BAYE scheme trustee, Equiniti, in which they will make a claim on your behalf and arrange for any payment to be made to you. This process will allow your claim in the scheme to be processed quicker and more efficiently for you. 

Equiniti will write to all individuals eligible to make a claim due to shares purchased through the BAYE scheme shortly. They will provide further details of the process and give guidance on the expected timing of payment.

If you are no longer a Tesco employee you may want to contact Equiniti (0333 207 6375) to ensure they have the correct contact details for you to allow them to make a claim on your behalf and arrange payment.

If you do not wish for Equiniti to pursue your claim in relation to shares that you purchased through the BAYE scheme in the relevant period, then you should take the required action as detailed in the Equiniti letter to be sent shortly and submit a claim directly to the Administrator through the online claims portal (or using a postal claim form) – see the standard claim process for further information.

If you are or were a Tesco employee and purchased shares outside the BAYE Scheme in the relevant period, then you should submit a claim directly to the Administrator through the online claims portal (or using a postal claim form) in relation to this purchase, although we advise that you still utilise the Equiniti service in relation to the shares purchased through the BAYE scheme.

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