Buy down - what if I leave before 2 years

[Spanishsteve]

We are currently having a revision and tomorrow I am giving my Dom some details so he can give me a buy down figure, from 39 hours to 20 hours. My question is, I understand that I must stay for 2 years, but what if I leave within 6-8 months ?
Is all the money paid back or part of it ?
I read on an earlier thread from 2009 that a postie had got a buy down then left before 2 years, and he initially paid back the amount then with a solicitor sued RM and got the money back. Have RM tightened the rules since then ?
Advice please.

[wandle]

You make it sound as if you are planning to leave in 6-8 months anyhow. In which case, wouldn't it make more sense to apply for VR, now?
Buydowns are now subject to tax, under new HMRC rules. Any VR package would only be taxed on sums over £30,000. So you could get a bigger payout AND pay less tax than you would on a buydown of hours

[Spanishsteve]

Hi Wandle, I have been told that EVR is not on the table because RM are not taking away a duty.

[baldrick]

MTSF2 AGREEMENT 2010

Appendix 3
Buy Down (grade) Policy

5.3.1. a) upon termination of his/her employment for any reason whatsoever, or on promotion,
during the period of two years immediately following the Compensation Payment ("the
Compensation Period") he/she will refund a proportion of the Compensation Payment
to the Royal Mail Group equivalent to the un-expired portion of the Compensation Period;

[Spanishsteve]

Thanks Baldrick.