104 Weeks EVR Pay Stipulations

[wareing]

I am 55 and still in the Pension scheme. Will i pick 104 weeks evr if offered the package.
My colleague is 51 and still in the scheme, will he pcick up 104 weeks if offered the package.

[RobertT]

I assume you actually mean VR – Voluntary Redundancy?

If you're offered VR what you get will depend on your age and length of service, up to a maximum of 104 weeks pay. You can work out what you might get by using this ready reckoner.

EVR is Early Voluntary Retirement and is a different thing that involves receiving an enhanced pension. But having recently re-read the CWU's 4 pillars pension agreement, I don't think it's still on the table.

[Kodal]

So if you are getting your pension or not reguardless of age.If you are offerd VR not EVR.the ready reckoner kicks in????

So this aplies to everyone reguardless of service or paying into the pension or not ???

[RobertT]

The way I understand it is that you have to be a member of the RMPP to be offered VR, the ready reckoner seems to suggest that, although I could be wrong?

Whether it also applies to those who've taken their pension, I don't know. Perhaps someone else does? I would hope that all those who've taken their pensions early have done their homework and know the answer to this!

VR should be offered on a seniority basis.

[smiffo99]

Are two stints at Royal Mail Taken into account ie:- two terms of service at 7 years each meaning a total of 14 years service?

[deltaforce]

Are two stints at Royal Mail Taken into account ie:- two terms of service at 7 years each meaning a total of 14 years service?

Very much doubt it!

[Homer]

I think that RMPP and VR are now separated, I've been offered VR twice now the last time was 4 years and both times i was offered reduced figures due to still being in the pension, I took my pension earlier this year and questioned about the link, i was told that the link between the two no longer exists, it was broken two years ago. Hope this helps

[stephen500]

I think that RMPP and VR are now separated, I've been offered VR twice now the last time was 4 years and both times i was offered reduced figures due to still being in the pension, I took my pension earlier this year and questioned about the link, i was told that the link between the two no longer exists, it was broken two years ago. Hope this helps

I know of at least two friends who, in order to get the max VR, had to stop paying into their pension.
Whether that rule still applies, I don't know.
For one this backfired as he didn't get vr in the end and was stuck with his pension being deferred.
This is what I am told. You must take advice before you do any thing.

[RobertT]

I think that RMPP and VR are now separated, I've been offered VR twice now the last time was 4 years and both times i was offered reduced figures due to still being in the pension, I took my pension earlier this year and questioned about the link, i was told that the link between the two no longer exists, it was broken two years ago. Hope this helps

I believe you're correct.

Until 2018 the over 55's had either 26 weeks pay and an enhanced pension, or up to 104 weeks pay but only if they'd left the RMPP.
Under 55's had up to 104 weeks pay.

That changed when the RMPP closed to future accrual. It's now up to 104 weeks for everyone.

[freespeech]

I think that RMPP and VR are now separated, I've been offered VR twice now the last time was 4 years and both times i was offered reduced figures due to still being in the pension, I took my pension earlier this year and questioned about the link, i was told that the link between the two no longer exists, it was broken two years ago. Hope this helps

I believe you're correct.

Until 2018 the over 55's had either 26 weeks pay and an enhanced pension, or up to 104 weeks pay but only if they'd left the RMPP.
Under 55's had up to 104 weeks pay.

That changed when the RMPP closed to future accrual. It's now up to 104 weeks for everyone.

Not quite....ops is 104 weeks max, non ops is 52 weeks. Also there is a separate ready reckoner for those over 64y 6m.

[RobertT]

I think that RMPP and VR are now separated, I've been offered VR twice now the last time was 4 years and both times i was offered reduced figures due to still being in the pension, I took my pension earlier this year and questioned about the link, i was told that the link between the two no longer exists, it was broken two years ago. Hope this helps

I believe you're correct.

Until 2018 the over 55's had either 26 weeks pay and an enhanced pension, or up to 104 weeks pay but only if they'd left the RMPP.
Under 55's had up to 104 weeks pay.

That changed when the RMPP closed to future accrual. It's now up to 104 weeks for everyone.

Not quite....ops is 104 weeks max, non ops is 52 weeks. Also there is a separate ready reckoner for those over 64y 6m.

ops?

[freespeech]

I think that RMPP and VR are now separated, I've been offered VR twice now the last time was 4 years and both times i was offered reduced figures due to still being in the pension, I took my pension earlier this year and questioned about the link, i was told that the link between the two no longer exists, it was broken two years ago. Hope this helps

I believe you're correct.

Until 2018 the over 55's had either 26 weeks pay and an enhanced pension, or up to 104 weeks pay but only if they'd left the RMPP.
Under 55's had up to 104 weeks pay.

That changed when the RMPP closed to future accrual. It's now up to 104 weeks for everyone.

Not quite....ops is 104 weeks max, non ops is 52 weeks. Also there is a separate ready reckoner for those over 64y 6m.

ops?

Operations......most of the business. But some CWU grades are non ops.

[david3595]

I think that RMPP and VR are now separated, I've been offered VR twice now the last time was 4 years and both times i was offered reduced figures due to still being in the pension, I took my pension earlier this year and questioned about the link, i was told that the link between the two no longer exists, it was broken two years ago. Hope this helps

I believe you're correct.

Until 2018 the over 55's had either 26 weeks pay and an enhanced pension, or up to 104 weeks pay but only if they'd left the RMPP.
Under 55's had up to 104 weeks pay.

That changed when the RMPP closed to future accrual. It's now up to 104 weeks for everyone.

Not quite....ops is 104 weeks max, non ops is 52 weeks. Also there is a separate ready reckoner for those over 64y 6m.

ops?

Operations......most of the business. But some CWU grades are non ops.

We had LA grades leave last month on VR terms and they both got max 104 weeks, both aged early 50’s

[freespeech]

I think that RMPP and VR are now separated, I've been offered VR twice now the last time was 4 years and both times i was offered reduced figures due to still being in the pension, I took my pension earlier this year and questioned about the link, i was told that the link between the two no longer exists, it was broken two years ago. Hope this helps

I believe you're correct.

Until 2018 the over 55's had either 26 weeks pay and an enhanced pension, or up to 104 weeks pay but only if they'd left the RMPP.
Under 55's had up to 104 weeks pay.

That changed when the RMPP closed to future accrual. It's now up to 104 weeks for everyone.

Not quite....ops is 104 weeks max, non ops is 52 weeks. Also there is a separate ready reckoner for those over 64y 6m.

ops?

Operations......most of the business. But some CWU grades are non ops.

We had LA grades leave last month on VR terms and they both got max 104 weeks, both aged early 50’s

LA's are Ops......MA's are non Ops - both CWU grades.