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Buydowns
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A2B
- Posts: 2012
- Joined: 25 Feb 2009, 19:34
- Gender: Male
Re: Buydowns
Good luck getting a buydown sadly think their days are long gone
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clashcityrocker
- Posts: 16624
- Joined: 22 Sep 2009, 13:50
- Gender: Male
- Location: strummerville
Re: Buydowns
You are paid to reduce your contracted hours. It used to be calculated the same way as VR but obviously a lot less as you are only reducing your contract by a small amount.scoobydo79 wrote: ↑15 Feb 2023, 14:13Hi Guys. What are they exactly please and how does it work? Anyone done it please? Any regrets?
The money is taxable.
There are other financial considerations- weekly wage, pension contributions.
I only know of one person currently working who did it years ago when they reached 60.
It just doesn't seem to be an option any more.
The societies of consumption and squandering of material resources are incompatible with the idea of economic growth and a clean planet.
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pieoftheday
- Posts: 1834
- Joined: 11 Mar 2010, 16:43
- Gender: Male
Re: Buydowns
A few at ours did it years a go and 18month later were asked to to full time 
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claystones
- Posts: 329
- Joined: 02 Mar 2010, 23:34
- Gender: Male
Re: Buydowns
does anyone know the buy down payments
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POSTMAN
- SITE ADMINISTRATOR
- Posts: 32757
- Joined: 07 Aug 2006, 03:19
- Gender: Male
Re: Buydowns
Buy downs are 'usually' done during a revision.
You can't ask for them willy nilly 'usually'.
You can't ask for them willy nilly 'usually'.
I Wrote-During Covid-Which is still relevant now
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been.
My BFF Clash
The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been.
My BFF Clash
The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.
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heapsy
- Posts: 2967
- Joined: 02 Jun 2007, 23:40
- Gender: Male
- Location: Drinking with Gangsters
Re: Buydowns
Some years ago, a now retired colleague got £15k. He would be around 78 years old now. A woman in our office currently working, also reduced her hours, but I'm not sure what she got.
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clockworkjerk
- POST OFFICE
- Posts: 54
- Joined: 02 Nov 2008, 22:45
- Gender: Male
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Mike G
- EX ROYAL MAIL
- Posts: 79
- Joined: 17 Jan 2023, 07:18
- Gender: Male
Re: Buydowns
I'd be amazed if buydowns are still available given the "threatened" VR's have mostly failed to materialise.
I remember well over 10 years ago my DO was going through a revision where hours were being taken out, I requested a buydown but was refused in fact I wasn't even able to reduce my hours for free, instead they just achieved the reduction in hours by not making a new starter permanent and letting him go.
I remember well over 10 years ago my DO was going through a revision where hours were being taken out, I requested a buydown but was refused in fact I wasn't even able to reduce my hours for free, instead they just achieved the reduction in hours by not making a new starter permanent and letting him go.
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ted_e_bear
- Posts: 4085
- Joined: 03 Sep 2012, 19:37
- Gender: Male
Re: Buydowns
I remember albeit also a long time ago at least 12 years, someone got a buydown from full time to 30 hours, said he got 2 years worth of the difference in pay between full and part time.
Anyway in true royal mail fashion that we've all grown to love and you can't make up this person was 63 so only had to work part time hours for his last two years but in effect got full time pay
Anyway in true royal mail fashion that we've all grown to love and you can't make up this person was 63 so only had to work part time hours for his last two years but in effect got full time pay
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heapsy
- Posts: 2967
- Joined: 02 Jun 2007, 23:40
- Gender: Male
- Location: Drinking with Gangsters
Re: Buydowns
Overtime isn't pensionable. Unless you are in the newer DC scheme at RM, which is being phased out anyway.clockworkjerk wrote: ↑16 Feb 2023, 16:00The glory days of pure wastage.
Loads did it.... then just did the OT and contractually returned to full time however long later. Essentially a free lump sum, since the OT is pensionable anyway, just lost a bit in holiday pay at the time.
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scoobydo79
- Posts: 2047
- Joined: 15 May 2011, 19:04
- Gender: Male
Re: Buydowns
Cheers Guys. Sounds like it may rear it’s head then given the current climate