Martin Walsh please explain the rationale for accepting 500 pounds lump sum over 1500 pounds

[jagger]

Is there something we don’t know?
It’s a s**t deal, as we knew it would be, but at least the £1500 could have helped a lot of people. £500 after tax an NI isn’t worth a wank, especially for part-timers.

[norris9]

Yeah - what's the rationale...

- Did Royal Mail retract the £1,500 version of the pay deal?

or

- Is it something to do with this other mysterious lump sum that has been spoken about that we may or may not get?

or something else?

[FirstPost]

Even with 1500 I wouldn't accept this S**T deal

[parforthewalk]

Is there something we don’t know?
It’s a s**t deal, as we knew it would be, but at least the £1500 could have helped a lot of people. £500 after tax an NI isn’t worth a wank, especially for part-timers.

It's already been explained colleague.

You are getting 6% extra more in your weekly/monthly pay & 500 quid before deductions.

With the 1500 quid scenario, you only got 2% extra in your weekly/monthly pay.

I believe this is correct?

[KnowItAll]

The £1500 lump sum came with 2% followed by 6%, whilst the £500 came with 6% followed by 2%.

If you took the 6% this year, your pay goes from 25k to 26.5k plus £500 lump sum =27k paid 23-24
If you take the 2% this year your pay goes to 25.5k plus £1500 lump sum =27k paid 23-24
So it's the same, and then your next pay rise sees you at 27,030 in both instances.

If the lump sum was pensionable then they both work out the same, if not then you're best off taking the £500 to improve your basic pay earlier. The 6% rise this year would also flow to overtime etc. So quickly worth more than the larger lump sum.

[sindba]

Is there something we don’t know?
It’s a s**t deal, as we knew it would be, but at least the £1500 could have helped a lot of people. £500 after tax an NI isn’t worth a wank, especially for part-timers.

It's already been explained colleague.

You are getting 6% extra more in your weekly/monthly pay & 500 quid before deductions.

With the 1500 quid scenario, you only got 2% extra in your weekly/monthly pay.

I believe this is correct?

That's about it. Remember that a pay rise flows through to overtime, pensions, allowances. A lump sum doesn't.

Plus RM would not have honoured 6% next year.

The 500 is a better deal.

[richj2009]

They have no honour

[theotherone]

Is there something we don’t know?
It’s a s**t deal, as we knew it would be, but at least the £1500 could have helped a lot of people. £500 after tax an NI isn’t worth a wank, especially for part-timers.

It's already been explained colleague.

You are getting 6% extra more in your weekly/monthly pay & 500 quid before deductions.

With the 1500 quid scenario, you only got 2% extra in your weekly/monthly pay.

I believe this is correct?

That's about it. Remember that a pay rise flows through to overtime, pensions, allowances. A lump sum doesn't.

Plus RM would not have honoured 6% next year.

The 500 is a better deal.

Yes but you have to work for that.Its going forward.
Lump sum would of put £££ in the bank and many would of fecked off out of here.

[Clappedoutpostie]

The union will have gone with it because the 6% feeds through to overtime etc. Lots at ours wanted the £1500 so they could then leave after they got it.

[heraldmoth]

The union will have gone with it because the 6% feeds through to overtime etc. Lots at ours wanted the £1500 so they could then leave after they got it.

There is no overtime going forward so who the f&%* fell for that

[2chorizon]

The £1500 lump sum came with 2% followed by 6%, whilst the £500 came with 6% followed by 2%.

If you took the 6% this year, your pay goes from 25k to 26.5k plus £500 lump sum =27k paid 23-24
If you take the 2% this year your pay goes to 25.5k plus £1500 lump sum =27k paid 23-24
So it's the same, and then your next pay rise sees you at 27,030 in both instances.

If the lump sum was pensionable then they both work out the same, if not then you're best off taking the £500 to improve your basic pay earlier. The 6% rise this year would also flow to overtime etc. So quickly worth more than the larger lump sum.

I agree

[Clappedoutpostie]

The union will have gone with it because the 6% feeds through to overtime etc. Lots at ours wanted the £1500 so they could then leave after they got it.

There is no overtime going forward so who the f&%* fell for that

I have just read the whole 36 page document, can u point me to the bit where it says no overtime going forward please?

[The Postman]

March 2024 comes around. RM - "We're losing 1 million pounds a day. Can't afford that 6% we agreed to. Here's 2% instead."

[heraldmoth]

The union will have gone with it because the 6% feeds through to overtime etc. Lots at ours wanted the £1500 so they could then leave after they got it.

There is no overtime going forward so who the f&%* fell for that

I have just read the whole 36 page document, can u point me to the bit where it says no overtime going forward please?

The bit where it says flexible working ie u do the overtime for free in the winter and bugger off early in the summer

[sindba]

There will be some overtime, but first you'll be asked to "flex".

Then you'll be shown your PDA tracking and asked " supportively" why you've been walking 0.4mph too slowly and stopped for 3 minutes on Acacia Avenue.