POAL How to apply

[Playmail]

So in other terms we will let you know on Jan 31st ready for the end date anyone can apply being the 1st of Feb useless

[yellowbelly]

Does POAL have to be a salary sacrifice (pre-tax) benefit? Can it be legally done from post tax wages? Surely that would be fair for everyone?

Wouldn't it still take new contract staff below the MW regardless as to whether it's pre or post tax/NI?

No, because you're spending it after Royal Mail have paid you the min wage or above. Similar to when you pay too much pay into your RM AVC's it moves over to the right hand side of your pay chit or you spend your wages on booze/fags whatever you want. I don't know whether it's a legal thing that POAL MUST be a salary sacrifice 'thing'.

[TopperGas]

Does POAL have to be a salary sacrifice (pre-tax) benefit? Can it be legally done from post tax wages? Surely that would be fair for everyone?

Wouldn't it still take new contract staff below the MW regardless as to whether it's pre or post tax/NI?

No, because you're spending it after Royal Mail have paid you the min wage or above. Similar to when you pay too much pay into your RM AVC's it moves over to the right hand side of your pay chit or you spend your wages on booze/fags whatever you want. I don't know whether it's a legal thing that POAL MUST be a salary sacrifice 'thing'.

If POAL isn't paid by SS then it probably loses it's attraction to RM to offer it? Regardless of your not recieving the payment, as your not working the days, surely it has to be deducted before the MW is calculated?

[yellowbelly]

Does POAL have to be a salary sacrifice (pre-tax) benefit? Can it be legally done from post tax wages? Surely that would be fair for everyone?

Wouldn't it still take new contract staff below the MW regardless as to whether it's pre or post tax/NI?

No, because you're spending it after Royal Mail have paid you the min wage or above. Similar to when you pay too much pay into your RM AVC's it moves over to the right hand side of your pay chit or you spend your wages on booze/fags whatever you want. I don't know whether it's a legal thing that POAL MUST be a salary sacrifice 'thing'.

If POAL isn't paid by SS then it probably loses it's attraction to RM to offer it? Regardless of your not recieving the payment, as your not working the days, surely it has to be deducted before the MW is calculated?

Dunno Topper, was just throwing an idea out there. The bean counters and legal team will be all over it I assume - ha ha!

[A2B]

Never heard of salary sacrifice till recently, has it always been around? POAL has been around for a long time

[ted_e_bear]

Never heard of salary sacrifice till recently, has it always been around? POAL has been around for a long time

It's probably that it's never been referred to as salary sacrifice before although that's what it is

[A2B]

Never heard of salary sacrifice till recently, has it always been around? POAL has been around for a long time

It's probably that it's never been referred to as salary sacrifice before although that's what it is

Possibly but RM get a tax incentive through Salary Sacrifice that's why they want you to use it for electrical items and various other things, has that always been the case with POAL?

I thought you just paid RM the money to cover the amount of leave you bought, I didn't think the amount paid back to RM was at a reduced rate? I may well be totally wrong on this

[ted_e_bear]

Never heard of salary sacrifice till recently, has it always been around? POAL has been around for a long time

It's probably that it's never been referred to as salary sacrifice before although that's what it is

Possibly but RM get a tax incentive through Salary Sacrifice that's why they want you to use it for electrical items and various other things, has that always been the case with POAL?

I thought you just paid RM the money to cover the amount of leave you bought, I didn't think the amount paid back to RM was at a reduced rate? I may well be totally wrong on this

Yeah I don't know about the rest but I think that parts probably correct, I know that after 15 years service you get 5 weeks 1 day so my rough maths means
52 weeks of 5 days = 260 paid days per year
1.6% of 260 days = 4.16 days so about close enough.