mutual termination agreement !

[shimmyrule]

anyone know for def how this works, few folk in my office asking for it?
wonder how a figure is agreed? whats it based on?
anyone?

[banner18]

Here's £20.60

see ya................

[shimmyrule]

done

[Spartacus]

Termination by mutual agreement, it's in the managing the surplus framework agreement, have a look in the download section on here.

[smokerjim]

done

You have been

[jockstrapp]

Asked manager about it this morning, he has heard about it but did'nt know how it worked

[viking]

at our office a few of us were offered this in place of VR. Apparentlay the terms are inferior to VR also. OUr manager told us that all the papaer work for us who were interested had been returned to Head Office for further steps to be taken. DIM left our office and new DIM found all the said paperwork hidden in the office desk drawer.. and apparently had missed the deadline date for acceptance. LYING SCUMBAG

[baldrick]

Termination by Mutual Agreement is currently for people being released early who are between 50-54.
After 1 April when the pensionable age is raised to 65, you would need to be 55-59 to get it.

There are two options:
TMA1a
Compensation will be calculated as follows:

3 weeks average assessable pay for each year of service between 1-10; plus
4 weeks average assessable pay for each year of service from 11 onwards; plus
2 weeks average assessable pay for each year of service between age 40-49

Subject to to a maximum of 104 weeks pay (part years not included) plus
entitlement to apply for an actuarilly reduced pension, subject to the rules of the Royal Mail Pension plan
OR to defer pension until age 60.

TMA1b

Immediate payment of a non-enhanced and non-reduced pension (and lump sum where applicable) based on
actual reckonable service.
There is no additional compensation paid.