Contributing to the Plan
What does my payroll do with my contributions?
Your payroll will pay your contributions over to the Plan Administrator after the end of each pay period. The Plan Administrator holds the contributions in each payroll currency before converting to the relevant stock exchange currency prior to the purchase of Acquired Shares. Participants have no entitlement to any interest or benefit earned on the contributions (if any) while held by the Plan Administrator.
Is there a Minimum and Maximum annual limit on the amount I can contribute each year?
Yes, BHP will set a limit for both minimum and maximum amounts each year and advise employees. The minimum contribution amount is USD 200 and the maximum amount is USD 5,000. The maximum and minimum contribution amounts in each payroll currency can be found online at BHPBshareplus.com and also in this guide under the heading “2020 Minimum and Maximum Annual Contribution Limits”.
Do I make contributions in US Dollars?
No, your contributions will be made in your salary currency.
At the beginning of each plan year we convert the USD amounts to each salary currency. These local currency contribution amounts are online at BHPBshareplus.com and can also be found in this guide under the heading “2020 Minimum and Maximum Annual Contribution Limits”.
Can I choose a currency in which to make my contributions?
No, your contributions will be in the same currency as your salary. Payroll will advise the Plan Administrator of your relevant currency.
Do I have to make contributions through my pay?
Yes, all contributions will be deducted from your salary, unless you are prohibited by law from such payroll deductions.
If I am enrolled at the maximum annual amount, do I need to amend my re-enrolment in order to achieve the new maximum annual amount?
If the new maximum annual amount is greater than the previous, you will need to amend your re-enrolment to contribute at the new maximum annual amount.
If the new maximum annual amount is lower than the previous, your re-enrolment will be automatically reduced to the new maximum annual amount.
If you have chosen to always be on the maximum amount, your Shareplus deductions will automatically adjust.
What exchange rates are used to convert the amounts?
The exchange rates used to convert the minimum and maximum US dollar amounts into local currency are based on the first business day of February. The Annual Contribution limits are then fixed in each currency for the rest of the plan year.
How do I know the minimum and maximum that I can contribute per pay period?
When enrolling, you will nominate the annual contribution that you wish to make. The maximum and minimum amount in each payroll currency can be found on the web at BHPBshareplus.com and in this guide under the heading “2020 Minimum and Maximum Annual Contribution Limits”. You also have the option of choosing to be on the maximum amount every year.
Can I change my contributions during a plan year?
You cannot change your contributions during a plan year, although you can cease your contributions to Shareplus at any time (subject to compliance with Our Requirements for Securities Dealing standard). Please refer to the Ceasing Contributions Q&A for further information.
I am on secondment/international relocation/assignment and am being paid from multiple payrolls. Can I choose which payroll to contribute from?
No, contributions will be deducted from your host country payroll in your host country currency, unless special circumstances exist which prevents this (e.g. no host payroll facilities). This provides a simple, consistent and transparent policy for all mobile employees across the globe.
I have relocated and changed my salary currency or frequency or my employing entity (Limited vs Plc). What action do I need to take to change my contribution details?
If you relocate during the year, payroll will advise the Plan Administrator of your move on your behalf. You should check your payslips to ensure contributions continue to be deducted from your pay.
If I relocate and change my salary currency, can I choose a new amount to contribute?
No. If you relocate and change your salary currency, your annual contribution rate will simply be applied in your new salary currency (for example, if you were contributing at the maximum in one currency, your contributions will continue at the maximum rate in your new payroll currency).
How do I stop my contributions to Shareplus?
You can cease your contributions to Shareplus at any time (subject to compliance with Our Requirements for Securities Dealing standard) by completing a Cease Contributions form online via Shareworks or by calling the Plan Administrator directly. Your request to stop contributing from Shareplus will be actioned as soon as your completed form is processed (note that this may not be before the next payroll deduction if there is insufficient time allowed).
Can I make contributions whilst on unpaid leave (e.g. parental leave, sick leave, long-service leave, sabbatical)?
You must be receiving a salary to make contributions. Your participation will be suspended for any periods when you do not receive a salary. Please refer to the Temporary leave section of this Q&A for further information. If you complete a Cease Contributions form when you are on unpaid leave you will not be able to participate in or contribute to Shareplus again until the next enrolment period.
Can I make backdated contributions when I return to work?
Can I salary sacrifice my contributions?
Does BHP operate a loan scheme?
Can I give you the annual maximum contribution in a lump sum?
When do payroll deductions commence?
Deductions for Shareplus 2020 commence from June 2020.
When do payroll deductions end?
The last payroll deduction for Shareplus 2020 will be at the end of May 2021.
What happens to my contributions if I leave BHP, or cease making contributions?
If the Plan Administrator has been notified by HR Services/payroll of your departure or withdrawal before the next purchase date, no shares will be purchased on your behalf. Instead, the Plan Administrator will refund your contributions. Please refer to the Leaving section Q&A for further information.