Why is the lump sum non pensionable if its arrears of normal pay??
It's not arrears of normal pay. It's a gesture from the business to help us out until they can calculate the arrears correctly.
I believe the payrise will come into effect in September so your actual wage will not increase until then.
When the correct amount of arrears is calculated this will be pensionable. They will pay your arrears in full and redeem the lump sum.
Actual basic pay and pensionable basic pay should not be confused, Pensionable basic pay increases by the rate of inflation on 1st of April each year, they use the previous September inflation figure to calculate this.
It doesn't matter if we get a pay rise, when we get it or what percentage the pay rise is, last September the inflation rate was 4.9% and pensionable pay increased by that amount on April 1st this year.
Pensionable basic pay is lower than actual basic pay but if we get pay rises below the rate of inflation too often, then all our basic pay could end up becoming pensionable, but with adjustments from the following April.
Why is the lump sum non pensionable if its arrears of normal pay??
It's not arrears of normal pay. It's a gesture from the business to help us out until they can calculate the arrears correctly.
I believe the payrise will come into effect in September so your actual wage will not increase until then.
When the correct amount of arrears is calculated this will be pensionable. They will pay your arrears in full and redeem the lump sum.
Actual basic pay and pensionable basic pay should not be confused, Pensionable basic pay increases by the rate of inflation on 1st of April each year, they use the previous September inflation figure to calculate this.
It doesn't matter if we get a pay rise, when we get it or what percentage the pay rise is, last September the inflation rate was 4.9% and pensionable pay increased by that amount on April 1st this year.
Pensionable basic pay is lower than actual basic pay but if we get pay rises below the rate of inflation too often, then all our basic pay could end up becoming pensionable, but with adjustments from the following April.
That applies at the moment with the RMPP.
But that same regime of increasing pensionable pay by inflation each April won't continue when the new RMCPP(CDC) scheme starts.
Wait everyone got this lump sum (npen) as a bonus? It took money off me, I'm very confused
It wasn't a bonus, it was an advance/loan of the pay rise. Once they worked out the correct figure they paid it to you, and took back the advance/loan. It was Non-pensionable, the pay rise when paid was pensionable.
Royal Mail
failing the workforce, failing the public and deliberately failing mail on a daily basis for too many years.
That applies at the moment with the RMPP.