Colleague shares for people who have left

[numan]

I was a f/t postman who left last October due to IHR and I received no colleague share money at the time. I checked my bank statement today and I have just received a payment of £287.46, courtesy of RM. Has anybody else received the same?

[amandadavis]

i spoke to HR just then all weekly paid ex staff should be paid today and monthly next thursday each share was worth 56p each Full time had 711 shares and part time pro rota (711/36 then x how ever many hours work when shares given give a rough estimate) then your taxed on them after that

[mike1975]

Yeah,I got mine today as well.I was on a 30 hour contract but finished in January on IHR.I got the grand total of £224.75.Only about a grand or so less than I was led to belive I was supposed to be getting.

[TrueBlueTerrier]

Yes thats a very poor return on expectations - but you know RMC - some crass member will come along and say you should be grateful. Try not to bite though I am enjoying my long weekend.

[mazza111]

Yep got wage slip thru in post today, better than i expected tbh

[amandadavis]

Think we all expected £0.00 so anything is better than nothing i suppose just a shame the company has s**t on everyone

[mazza111]

my thoughts exactly, but owt is better than nowt, only worked out about £80 on my pro rata but never mind :)

[bunkerland]

Yes thats a very poor return on expectations - but you know RMC - some crass member will come along and say you should be grateful. Try not to bite though I am enjoying my long weekend.

Never mind the colleague shares,we should all just be grateful we've got a job!

[numan]

And this is exactly how RM get away with shafting the workforce year in year out. First, tell 'em the worst case scenario, then when it turns out to be not quite as bad as the propaganda had them believe, leave 'em to pull their pants up while exclaiming "Well at least it didn't hurt as much as I thought it would"

[mike1975]

And this is exactly how RM get away with shafting the workforce year in year out. First, tell 'em the worst case scenario, then when it turns out to be not quite as bad as the propaganda had them believe, leave 'em to pull their pants up while exclaiming "Well at least it didn't hurt as much as I thought it would"

I agree,there seems to be an 'oh well,it's better than nothing attitude' on here.I haven't been on here for a while and tbh I expected a bit more anger.A fella in our office retired last year and left with £1400 colleague shares,here's me with my paltry £224.75.It takes the piss.I've also heard tales of folk being paid up on the last valuation that had left RM after I did.How can that be? Surely with shares you have to pay out on the current valuation,you can't make someone wait 4 months until the value's really dropped so you end up with next to jack s**t compared to what they were worth.I know where some are coming from with the 'it's more than I expected' because when I first learned of these shares I knew deep down that by the time it come to pay out they'd be worth zilch.It just pisses me off that Royal mail get away with moving the goalposts time and time again and the Union or the workers do absolutely zero about it.I'm glad I'm out of the shithole.

[rovermaestro]

Yes same for me. I left on 13th November 2010 through ill health retirement and have just received a payment for £287.46 net. (That's £398.16 minus Tax and NI). My pay advice says the shares are valued at 56pence as of 1st October. So it appears that the previous valuation was suspended on 30/09/2010 and the new valuation, which has only just been calculated, is backdated to 1st October. This seems bizarre as it implies that the shares had no value between 1st October and now. Surely the previous valuation should apply until the new one is calculated! It seems as if some colleagues who left shortly after the cut off may have received a payment based on the old valuation which seems like reasonable grounds to complain about this treatment.

[red1968]

A postie who took VR last October has just told me he has recieved just under £300 Cs money after tax .

So from September to October the value dropped £1000 ,as we know it does'nt add up ,Thieving RM

[mike1975]

Yes same for me. I left on 13th November 2010 through ill health retirement and have just received a payment for £287.46 net. (That's £398.16 minus Tax and NI). My pay advice says the shares are valued at 56pence as of 1st October. So it appears that the previous valuation was suspended on 30/09/2010 and the new valuation, which has only just been calculated, is backdated to 1st October. This seems bizarre as it implies that the shares had no value between 1st October and now. Surely the previous valuation should apply until the new one is calculated! It seems as if some colleagues who left shortly after the cut off may have received a payment based on the old valuation which seems like reasonable grounds to complain about this treatment.

I agree 100% but who do we complain to and how do we go about it?

I'm thinking that if we do it off our own backs one by one then they'll just swat us away like flies but if somehow we could get a good number of us to complain collectively then we'd have more chance.

[Debbie]

I was a f/t postman who left last October due to IHR and I received no colleague share money at the time. I checked my bank statement today and I have just received a payment of £287.46, courtesy of RM. Has anybody else received the same?

Yes I was paid the same amount.

[feduppostie]

and yet the staff still working got nothing

nothing against you lot who have left but really!