Spate of redundancies?

[POSTMAN]

It's the agreement their union got,food for thought?

[maisymoo04]

managment what a joke we couldnt cover 2 walks today so 2 suits came down to cover them,so funny should of seen the 2 of them haha.do you think they would of come down if it was van sharin i dont think so

[TrueBlueTerrier]

I read each manager was in the £40,000 pay bracket, so each would walk away with £80,000. That's £1.6m, and they only want to give the foot soldiers six months pay which is approx 10,000.
That sums up exactly what the RM think of us!

Its Not 1.6million

£80,000 x 2,000 = £160,000,000

100 x worse than you thought

[stodgy88]

.
I'm no too clear how things are after 1 April 2010, but I think the first part of that is correct. If you are under 55
or had come out of the RM pension scheme completely you would get the VR terms based on age and service:

Formula for calculating compensation
0.5 weeks assessable pay for each full year of service under the age of 22; plus
1.0 weeks assessable pay for each year of service from age 22 to age 40; plus
1.5 weeks assessble pay for each full year of service over the age of 41
Added together, the total from the above is then multiplied by 3.75 to give total No of weeks' entitlement.

As I unerstand it TMA terms are no longer available after 1 April 2010.

I think that if you are over 55 and still paying into the CDSB pension, you would get EVR, with payment of the accrued
CDSB pension (enhanced by 37.5% pa?) and CDSB lump sum + 26 weeks redundancy compensation.

But as I said I'm not too sure how it works now, and you should contact the Pensions Service Centre to check.

[Blade Runner]

Chance of EVR's in our office in the new year.

I am fast approuching 63 and been with RM for 41 years and would like to go. Phoned HR helpline they took my details and said that I could expect to get 104 weeks pay.

I took my pension at 60.

[stodgy88]

2 year limit (104 weeks )finishes i think in october -see my last post for details on what you are entitled to-cheers

[maisymoo04]

41 years blade runner now you our old skool

[REDLETTER]

I read each manager was in the £40,000 pay bracket, so each would walk away with £80,000. That's £1.6m, and they only want to give the foot soldiers six months pay which is approx 10,000.
That sums up exactly what the RM think of us!

Its Not 1.6million

£80,000 x 2,000 = £160,000,000

100 x worse than you thought

Another couple of nuggets of information :

During your redundancy period, you should be told about available job vacancies within the company.

Watch out DO around the country for a new intake of green managers!

Redundancy pay under £30,000 is not taxable

Well that's £50,000 worth that can be taxed!!

[dazzlin72]

Sorry for my mis-calculation, but now we know where a sizeable chunk of the money "borrowed" from the Government is going, and it's not on modernizing the business.
RM shouldn't be using any of this money for redundancy packages, that wasn't what the money was borrowed for.
Know wonder the business is in such dire straits, how much money have they squandered over the years in paying off Leighton, Crozier, etc. and how much are they paying Moya Greene? and for what? She'll be gone once the privatisation goes through, with a nice golden handshake like the rest and for nothing.

[baldrick]

.
I'm no too clear how things are after 1 April 2010, but I think the first part of that is correct. If you are under 55
or had come out of the RM pension scheme completely you would get the VR terms based on age and service:

Formula for calculating compensation
0.5 weeks assessable pay for each full year of service under the age of 22; plus
1.0 weeks assessable pay for each year of service from age 22 to age 40; plus
1.5 weeks assessble pay for each full year of service over the age of 41
Added together, the total from the above is then multiplied by 3.75 to give total No of weeks' entitlement.

As I unerstand it TMA terms are no longer available after 1 April 2010.

I think that if you are over 55 and still paying into the CDSB pension, you would get EVR, with payment of the accrued
CDSB pension (enhanced by 37.5% pa?) and CDSB lump sum + 26 weeks redundancy compensation.


But as I said I'm not too sure how it works now, and you should contact the Pensions Service Centre to check.

Stodgy is quoting a previous post from me there. I omitted to put that the minimum VR is 26 weeks pay, and the maximum 104 weeks.
Easter Bunny (and others I think) have said that the maximum VR will be 26 weeks after 1 October, but I don't recall having seen anything to that effect in the 2010 & Beyond agreement, and as far as I can tell the maximum will still be 104 weeks until April 2013 , when the position will be reviewed -in light of the financial position of the company at that time.

[easter bunny]

Staff are being told that if they dont get out by the months end they can expect 6 months pay....That is fact not bar room gossip...

[baldrick]

Staff are being told that if they dont get out by the months end they can expect 6 months pay....That is fact not bar room gossip...

They might well be told that, but that doesn't mean it's true.
In my MC last year people were being told that if they didn't take VR/EVR then, that the terms this year would be worse.
But the terms being offered this year are the same.
I'm no expert on this, and it's more difficult to understand the position now because the wording in the 2010 & Beyond was
quite vague, and we weren't sent a copy. I am unable to download it either.
But from what I remember and understood, the main difference after 1 October, was the enhancement of pension with EVR.
We used to get up to 6.66 years enhancement, but as I understand it we will now get 37.5% enhancement, so as I understand
it if someone was 59 and took EVR, they would get 6 years enhancement, but under the new terms they would only get 2.25 years.
We had a VR/EVR trawl in my MC this year, and I did write asking how the new agreement would affect the VR terms, and
whether we would still get 104 weeks maximum payment after 1 October, but all I got in reply was a quote for how much I wouldget for EVR.
I did ask my Area Rep and he did seem to think that the maximum VR payent would still be 104 weeks.

If you see Blade Runner's post above, he does say that HR have told him he would still get 104 weeks VR.

[TrueBlueTerrier]

From the 2010 &

MTSF Amended Terms

The approach to change will continue to be in line with the Managing the Surplus Framework Agreement as amended below for Royal Mail Letters.

Royal Mail and the CWU recognise the need to amend the current MTSF arrangements for CWU represented grades across Royal Mail Group to:
1. Deal with the statutory change to the Minimum Pension Age and the change in the retirement age in the Royal Mail Pension Plan (RMPP);
2. Maximise the number of volunteers for redundancy with a suitable package for all age groups; and
3. Best support redeployment during the transformation period over the three years beginning from April 2010,

Both Royal Mail and CWU have agreed to phased changes as they are aware that some employees will have certain expectations based on the arrangements that were in place prior to 1 April 2010. Phase 1: a 6 month interim arrangement followed by Phase 2 from 1 October 2010.

Phase 1: Voluntary Redundancy with last day of service 1 April 2010 – 30 September 2010

Existing MtSF arrangements will remain in place for all employees, except for 50-54 year old RMPP qualifying members where the statutory change in the Minimum Pension Age means that they will only receive compensation based on aggregate service subject to a minimum of 6 months and a maximum of two years’ pay, calculated as follows:

1. 0.5 weeks’ Pay for each full year of service where age during year less than 22
2. 1.0 weeks’ Pay for each full year of service where age during year is 22 or above, but less than 41
3. 1.5 weeks’ Pay for each full year of service where age during year is 41+ and multiplied by 3.75.

This interim arrangement applies to redundancies, applying the criteria in Appendix 5 in MtSF, where the employee has a last day of service of 30th September 2010 or earlier. Exceptionally these terms will also be available for employees offered Voluntary Redundancy in a site closure where most of the redundancies in relation to that site closure take effect before 30th September 2010.

Phase 2: Voluntary Redundancy with last date of service from 1 October 2010

The following provisions will apply from 1 October 2010.

As for Phase 1, except that

1. Qualifying members aged 55 – 64 will receive a pension enhancement by way of service credit of 37.5% of their prospective service up to NRA (65), subject to the RMPP Trust Deed & Rules, and cash compensation of 26 weeks’ pay or a statutory redundancy payment, whichever is the greater.

2. The current age based selection criterion for voluntary redundancy will cease from 1 October 2010, but the other current selection criteria, including seniority, will remain unchanged.

3. Total cost of compensation (including pensions) will be limited to two times annual pay (as per the definition in MtSF) for all employees. If the total cost of compensation including pensions exceeds the above limit, cash compensation equivalent to two years’ annual pay will be paid. This limit on total cost of compensation will be suspended for the life of this agreement and will be deployed from 1 April 2013.

4. If a redundancy exercise at a site means that employees offered voluntary redundancy are released on dates straddling a change in terms, all such employees will receive terms applicable at the beginning of the exercise.

[baldrick]

Thanks for posting that TBT. From my reading of that, Phase 2 terms (after 1 October) are the same as Phase I,
except for the EVR enhancement (37.5%).
Or have I got that wrong?

[Dorset Plodder]

Good Luck to all those looking for Voluntary Redundancy Especially the Old Timers with many years sterling service

For those of us left just remember, when you're getting more and more work piled on you and getting messed about even more than usual - there's a plan! It's a well known management tactic to really try and piss the workforce off if you need redundancies. Normally enough people will just hand their notice in and go, saving you loads in Payments.

We had a couple of Old Timers in my DO who wanted VR and NO way would they let them have it they had to do their full time, good luck just the same