ESOS and savings if I read the relevant paragraph in BT2010 correctly (see below)belle smith wrote:Do you know were the £8 comes from teebs?TrueBlueTerrier wrote: Fact 4
Mail centres get an £8 supplement
Mail Centres, Collection Hubs and MDECs
A new (non pensionable) supplement to basic pay to all OPGs/OSGs in Mail Centres, OPGs/OSGs in Collection Hubs (who are not eligible to receive the Delivery Pay supplement) and Royal Mail CWU grades in MDECs pro rata for part-time employees. The supplement will increase in value as agreed in basic pay rises. It will flow through in 2011 and 2012. It will be paid 52 weeks a year at the rate of £8.00 per week and applies to new entrants. It replaces the first £8.00 of any PBS/ICS residual bonus payment in the Unit. In Units where the PBS/ICS payment is greater than £8.00, the amount over £8.00 will still be paid to existing recipients. Where the existing PBS/ICS payment is less than £8.00, the shortfall is funded on an ongoing basis by using the pool of money created by the former ESOS productivity scheme. The employees eligible for this pay supplement will also receive a one-off non-pensionable lump sum payment of £75 (pro rata for part-time employees) along with the first payment of the new supplement.
The above approach uses up the pool of money created by the former ESOS productivity scheme. Hence the ESOS scheme will cease to exist and will not accrue any future money