EVR`s. Whats the score?

[allforjoe]

Anyone know what the offer will be if you put yourself forward for EVR? Are there any restrictions on age, length of service? What would 21 years service be worth?

[baldrick]

Anyone know what the offer will be if you put yourself forward for EVR? Are there any restrictions on age, length of service? What would 21 years service be worth?

Apparently under the new proposed agreement VR/EVR will be done on seniority.

When you say what would 21 years service be worth are you talking about EVR (Early Voluntary Retirement)
or VR (Voluntary Redundancy)?

You would only get EVR if you are over 60 from April. You might get TMA (Termination by Mutual Agreement)
if you are 55-59.
The EVR with 21 years service would be about 30% of your pensionable pay if you are a Section B (formerly POPS)
member and a redundancy compensation payment of 26 weeks pay.

VR is for people under 55 and is based on age and length of service.
With 21 years service you would get between 67.5 weeks at age 37 up to 104 weeks at age 64.

Formula for valculating (VR) compensation:
0.5 weeks assessable pay for each full year of service under the age of 22;plus
1.0 weeks assessable pay for each year of service from age 22 to age 40;plus
1.5 weeks assessable pay for each full year of service over the age of 41

Added together, the total from the above is then multiplied by 3.75 to give total No. of weeks' entitlement

[BIG AL]

If, and its a big If as far as I am concerned this so called agreement goes through,
will EVR's be done by Seniority [ie 1st on the list]
or,this over 55's age first?

I am 49 and am in my 29th year of RM.

By the way I will still be voting NO!!!!!!!!



Stand Free.................................

[naughton]

FROM OCTOBER SENORITY RULES,UP TILL THEN AGE .