IMPLEMENTATION OF APRIL 2014 PAY INCREASE & PENSION CHANGES

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Letter to Branches




No:203/14
Ref:
28th March 2014



TO: ALL BRANCHES WITH POSTAL MEMBERS


Dear Colleague

IMPLEMENTATION OF APRIL 2014 PAY INCREASE AND PENSION CHANGES

In line with the Agenda for Growth Agreement the second year pay increase of 3% will be implemented for weekly paid staff on the 7th April and for monthly paid staff in their April salary.

The 3% pay increase flows through to all allowances (including the London pay element and Scottish Distant Islands Allowance) overtime and Scheduled Attendance rates in the normal way.

Under the terms of the Pensions Agreement, actual pay and pensionable basic pay are now delinked and will in future increase independently of each other. This means, for pension purposes, basic pensionable pay will be up rated by 3.2% on the 1st April 2014 (based on the Retail Price Index inflation figure as at 30th September 2013). The increase in respect of pensionable allowances will be 3% which continues to be in line with the pay award itself. These changes apply to members of the Defined Benefit Scheme.

Any enquiries on the above LTB should be addressed to the DGS (P) Department.

Yours sincerely



Dave Ward
Deputy General Secretary (P)