voluntary retirement new rules

[petercostello]

Apparently the union and royal mail have reached agreement on voluntary retirement I am 55 and would like to know how the new agreement affects vr as it is likely i might be offered it in the next few months.Is enhanced pension still offered or will i just be able to get 2 years pay and a reduced pension.I have tried to understand the agreement but cant get my head round it please explain in simple terms.

[stroller]

Hi Peter,

I have been waiting for the new MTSF agreement to happen as I am 55 next year and wanted to go after nearly 34 years service, it's a worse deal for the over 55's with a long service like me , how many years have you done?

[petercostello]

Had 37 years in what does the new agreement say as don't know how I am affected

[stroller]

From what I can gather, you will get your NRA60 pension minus a 25% deduction and your NRA 65 with a 50% deduction, but with the old agreement you would have had your pension enhanced straight away and got roughly 14k compensation, but with the new MTSF agreement you will get a reduced pension but your EVR payout will be about 50k to compensate for this, plus your pension lump sum on top of this.

[Lounge Lizard]

Hi Peter,

I have been waiting for the new MTSF agreement to happen as I am 55 next year and wanted to go after nearly 34 years service, it's a worse deal for the over 55's with a long service like me , how many years have you done?

If "the union and royal mail have reached agreement" then, yes, it's a worse deal.