Redundancies

[robking]

I calculate £26500 for me. I would have liked £30K which is the maximum tax-free, but I'll take it. I'm 62 and I will need another smalltime job for about 18 months assuming I leave at the end of March 2023.

[BigSacks]

Has anyone figured out whether they’re trying to pull a stroke and that the “extra” 6k is taxable?

[robking]

Has anyone figured out whether they’re trying to pull a stroke and that the “extra” 6k is taxable?

The first £30,000 of a redundancy payment is not subject to tax.

[dazer0070]

What figure are people multiplying the numbers of weeks by?

[Acca Dacca]

What figure are people multiplying the numbers of weeks by?

weekly assessable pay it is

[fallenworld2022]

its a tough call most of us hate the place and want out, but know how hard it is to get a job in this climate, usually jobs got to who u know, not what u know, if they had offered me 20k that might be enough but this extra 6 grand is the point we don't understand, could be a trap of some sort,don't know ends and outs, they be better saying add an 15 weeks to your tally as a bonus.

[postieblueshirt]

like many 27yrs in im 47 but ive done it heres hoping.what will i do?who cares..

[robking]

its a tough call most of hate the place and want out, but know how hard it is to get a job in this climate, usually jobs got to who u know, not what u know,

You're joking, there are labour shortages everywhere, my local pub has started closing at 10pm Mon-Wed because they can't find people to work there, it's a free house and the owner is behind the bar himself a lot of the time, I could walk in there tonight and start work, I've worked PT in bars and pubs before.
Also, there's a cafe across the road from me with a staff wanted sign, I could do bit in there and get my meals for nothing!

[thefox]

What figure are people multiplying the numbers of weeks by?

weekly assessable pay it is

Forgive my ignorance but is that the figure before or after tax.

[RobertT]

What happens to your pension if redundancy is taken. Also I presume it’s not possible to take a lump sum at 55

Nothing happens to your pension!
If you're in the RMPP/RMSPS, it will continue to grow with inflation until you take it.
If you're in the RMDCP, it still goes up and down in line with your chosen investments.

The normal access rules will apply to your pension, which is currently age 55, due to rise to 57 in 2028.
That is the law, not RM specific and applies whatever your employment status is.

[RobertT]

What figure are people multiplying the numbers of weeks by?

weekly assessable pay it is

Forgive my ignorance but is that the figure before or after tax.

Before tax.

[sindba]

Be careful, people.

RM don't have to honour these terms. You might end up getting the legal minimum.

And if RM decide to do compulsory redundancies on legal minimum, they could use the preference list for first out.

[thefox]

What figure are people multiplying the numbers of weeks by?

weekly assessable pay it is

Forgive my ignorance but is that the figure before or after tax.

Before tax.

[thefox]

Be careful, people.

RM don't have to honour these terms. You might end up getting the legal minimum.

And if RM decide to do compulsory redundancies on legal minimum, they could use the preference list for first out.

Think this is the problem you cant trust these rats.

[yellowbelly]

I do not have the people app is there any other way, not bothered about waiting until the 27th I'll go today

If you've not got the app I'm assuming you're on a desktop computer?

Go to this RM webpage https://www.myroyalmail.com/PeopleApp a web browser link is at the bottom of the main text.

How to access the app

You can download the app on to any Android or Apple device from your usual app store, or alternatively you can access the app on any web browser via this link

https://flpnwc-tiqlowleu9.dispatcher.eu ... Shell-home