The pay settlement is as follows:
4.1 Base pay and lump sum
This Agreement includes the following pay increases which would be payable to all grades in
Royal Mail Group with the exception of Fleet where different arrangements apply (See
appendix 4):
- A 10% salary increase and a one-off lump sum of £500 (broadly equivalent to 2% of pay for
postal grade employees (to be pro-rated for part-time employees)) broken down as follows:
4.1.1 The previously consolidated 2% pay rise that applied from 1 April 2022;
4.1.2 A consolidated 6% pay rise applying from 1 April 2023;
4.1.3 A one-off lump sum payment of £500 (pro-rated for part-time employees). This will be
non-consolidated and payable in the next available payroll run following ratification of
the content of this Agreement by CWU members; and
4.1.4 A consolidated 2% pay rise for all CWU graded employees applying from 1 April
2024.
scheduled attendance, basic pay supplements, functional supplements (where any element
is above £10.55), and allowances (except RRIS, legacy and reserved right payments), skills
and unsocial hours’ allowances, London weighting and Scottish Distant Islands allowance.
The next pay review period being 1st April 2025.
Subject to deployment of Indoor Method changes as set out at section 7 of this Agreement,
where an employee receives the functional supplement at the date of this Agreement,
£10.55 (£11.18 to take account of the 6% uplift) of that functional supplement will be
consolidated into base pay. That consolidation will take place as soon as possible following
deployment of the changes set out in the Indoor Method at Section 7 of this Agreement. Any
element of functional supplement over £10.55 (£11.18 to take account of the 6% uplift) that
is not currently consolidated into base pay will remain unconsolidated.
To receive any of the payments above, employees will need to be employed by Royal Mail at
the time of the payment.
The priority in this agreement is to make progress in current circumstances on overall pay.
This does not remove the shared vision in previous Agreements to make further progress on
the shorter working week.
4.3 Profit sharing payment
In addition to the pay increases, agreement has been reached for profit sharing over the life
of this agreement. For each financial year up to and including 2024/2025, a one-off payment
will be made to employees, payable on Royal Mail Group Ltd returning an operating profit in
any financial year in that period. The first 20% of operating profit will be distributed as a oneoff
payment to employees, paid after publication of the company’s audited accounts.
Any payment is a non-consolidated, non-contractual bonus subject to tax and national
insurance.
To receive the one-off payment employees must be in Royal Mail employment on the date
the applicable payment is paid.
ha ha ha we work for IDS not royal fail ..... Dunno about you but I feel a spout of IDS coming on may have to have next week off.
, absolute joke.what’s 20% of nothing?