not on facebook
ANNOUNCEMENT : ALL OF ROYAL MAIL'S EMPLOYMENT POLICIES (AGREEMENTS) AT A GLANCE (UPDATED 2017)... HERE


payed off

10 Feb 2019, 21:42

couple of lads in our office recently got payed off iknow one was ill health just wondered how much they would have been entitle too,would they have got a lump sum and a weeks wages for every year worked,anybody got any info or figures on this matter kind regards

payed off

10 Feb 2019, 22:46

comeracing wrote:couple of lads in our office recently got payed off iknow one was ill health just wondered how much they would have been entitle too,would they have got a lump sum and a weeks wages for every year worked,anybody got any info or figures on this matter kind regards

Not entirely sure but I think IHR is more than normal redundancy. I think redundancy is 16 grand plus so much per year worked. Liable to be a lot of posties looking into this soon before the ship sinks.

payed off

10 Feb 2019, 23:58

32 years in and I'd leave my uniform at the door on my way out , but not holding my breath for a payout just yet. With the turn over of staff through IHR and sackings at the moment it'll be a while off if ever.

payed off

11 Feb 2019, 04:31

IHR with lump sum = 34 weeks pay plus either 9 or 12 weeks PILON depending on service. So a maximum of 46 weeks pay.

Voluntary redundancy = up to 104 weeks pay depending on age and length of service. See the ready reckoner to work yours out.

Statutory redundancy(the minimum they have to pay if you're getting made compulsory redundant) = depends on age and length of service, but £15,240 is the maximum amount payable. Calculate yours here.

Plus in all three cases you get to keep or sell all your free shares without paying any income tax or NIC's.

payed off

11 Feb 2019, 16:02

Is the enhanced pension still in the mix ? I have an idea it may not be any longer .

payed off

11 Feb 2019, 16:34

Technically EVR still is a possibility for the over 55's as far as I know.
But the terms were changed a few years ago(2015?) meaning that if the total cost to the business is more than 104 weeks pay, then it wouldn't be offered, and normal VR terms would apply instead.

I think EVR will disappear altogether when the RMPP/DBCBS is replaced by the proposed CDC pension.

Presumably both VR & IHR will remain in some form going forward, but whether the current generous terms will continue long term is questionable in my opinion.

payed off

11 Feb 2019, 20:57

RobertT wrote:Technically EVR still is a possibility for the over 55's as far as I know.
But the terms were changed a few years ago(2015?) meaning that if the total cost to the business is more than 104 weeks pay, then it wouldn't be offered, and normal VR terms would apply instead.

I think EVR will disappear altogether when the RMPP/DBCBS is replaced by the proposed CDC pension.

Presumably both VR & IHR will remain in some form going forward, but whether the current generous terms will continue long term is questionable in my opinion.



Thanks for the reply

Previous page Next page


Page 1 of 1