Martin Walsh please explain the rationale for accepting 500 pounds lump sum over 1500 pounds

[P13]

The £1500 lump sum came with 2% followed by 6%, whilst the £500 came with 6% followed by 2%.

If you took the 6% this year, your pay goes from 25k to 26.5k plus £500 lump sum =27k paid 23-24
If you take the 2% this year your pay goes to 25.5k plus £1500 lump sum =27k paid 23-24
So it's the same, and then your next pay rise sees you at 27,030 in both instances.

If the lump sum was pensionable then they both work out the same, if not then you're best off taking the £500 to improve your basic pay earlier. The 6% rise this year would also flow to overtime etc. So quickly worth more than the larger lump sum.

That's not right. Leave the lump sum aside for a moment. After 2 years your salary is 27,030.
25000 X 1.02 x 1.06 = 27030
or 25000 X 1.06 x 1.02 = 27030

But with option 1/ you've had an additional 1500 lump sum
With option 2 you've had an additional 500 lump sum

This was covered to death in an earlier thread

Your earning an extra £1000 in wages in the first year which makes it exactly the same .

[RTP]

Is there something we don’t know?
It’s a s**t deal, as we knew it would be, but at least the £1500 could have helped a lot of people. £500 after tax an NI isn’t worth a wank, especially for part-timers.

Money its a gas.

Grab the cash with both hands and make a stash.

[JohnDoe12]

The CWU are so pathetically bad at their job they cant even negotiate a decent bribe to get us to vote for this piss poor deal. Not that I would have voted for it no matter what they offered, but a lot of people would have. I mean £500 lmfao, and that's before tax, and if your part time you get the pro rata crap because the CWU don't think part timers are worth getting the same lump sum as full timers. Absolute joke of a union.

[77SAMPOST77]

Is there something we don’t know?
It’s a s**t deal, as we knew it would be, but at least the £1500 could have helped a lot of people. £500 after tax an NI isn’t worth a wank, especially for part-timers.

Money its a gas.

Grab the cash with both hands and make a stash.

What does RTP stand for , is it roll the pot .

[JohnDoe12]

The £1500 lump sum came with 2% followed by 6%, whilst the £500 came with 6% followed by 2%.

If you took the 6% this year, your pay goes from 25k to 26.5k plus £500 lump sum =27k paid 23-24
If you take the 2% this year your pay goes to 25.5k plus £1500 lump sum =27k paid 23-24
So it's the same, and then your next pay rise sees you at 27,030 in both instances.

If the lump sum was pensionable then they both work out the same, if not then you're best off taking the £500 to improve your basic pay earlier. The 6% rise this year would also flow to overtime etc. So quickly worth more than the larger lump sum.

That's not right. Leave the lump sum aside for a moment. After 2 years your salary is 27,030.
25000 X 1.02 x 1.06 = 27030
or 25000 X 1.06 x 1.02 = 27030

But with option 1/ you've had an additional 1500 lump sum
With option 2 you've had an additional 500 lump sum

This was covered to death in an earlier thread

Your earning an extra £1000 in wages in the first year which makes it exactly the same .

Apart from the fact inflation was 10 % last year and we got 2%, inflation is 10-12% this year and we get 6%, and next year inflation predicted to be 2-4% and we get 2 %. We are worse off in real terms. The union are absolutly pathetic if they think that is a good deal they all need to resign. A good deal would be to get paid 150 thousand pounds a year for being an incompetent idiot who is bad at their job (DAVE WARD)

[Dexydog]

With regards seasonal working/banking hours.
Where does that leave your holiday pay?- remember that little nugget the union signed up for?
Absolute set of muppets.

[sweepster70]

So your original point doesn’t stand up, overtime rate could be 50 quid an hour, makes no difference cos there won’t be any

Depends where you work in Royal Mail. Overtime (S/A) is built into your duty every day.

God I give up, vote yes and enjoy

Has he taken you yet?
I will vote based on a percentage. I have fully read the agreement, and I will vote accordingly.
No new starter should be on lower pay and t and c's, and we will never achieve the 5.5 on sick pay.
There is nothing about what I do in the agreement. I must be entwined with everyone else.

[milly]

The CWU are so pathetically bad at their job they cant even negotiate a decent bribe to get us to vote for this piss poor deal. Not that I would have voted for it no matter what they offered, but a lot of people would have. I mean £500 lmfao, and that's before tax, and if your part time you get the pro rata crap because the CWU don't think part timers are worth getting the same lump sum as full timers. Absolute joke of a union.

Is the Pension not pro-rata too or should someone working 16 hours receive the same Pension as someone who works 37 hours .

[k979aaa]

£1500 bung so jeremy hunt can have £650 of it you people even the £500 is bad enough would rather have 1.5 to 2% in my wage every week and my pensionable pay if we get there!