Â£400 Flexibility payments

DGP1 · Post by **DGP1** » 27 Mar 2008, 22:00

dpb wrote:
cobra wrote: Does anybody know when will we be receiving the Â£400 for the flexibility agreements that has been signed off??
think that you will find that the Â£400 is to be payed in "colleague share dividends" redeemable as cash in 2011 at the earlist . thats what i read in the agreement.

does any one read it differently?

It'll be paid in cash (although if it was paid in dividends then I'd laugh my balls off at those who voted yes just for the money)

Post by **dpb** » 27 Mar 2008, 22:05

read section 1.4 of the agreement ( available at the top of this forum index)

you could be in need of new balls

DGP1 · Post by **DGP1** » 27 Mar 2008, 22:07

dpb wrote:read section 1.4 of the agreement ( available at the top of this forum index)

you could be in need of new balls

DGP1 · Post by **DGP1** » 27 Mar 2008, 22:15

Â· Â£400 of the potential ColleagueShares dividend payment will be made
in April 2008 to offices which have completed their deployment of the
agreed unit plan in Phase 2 of the modernisation process.

It is not very clear whether it is cash or shares, maybe some of the union guys out there can let us know

Stormproof · Post by **Stormproof** » 27 Mar 2008, 22:17

disgruntledpostie1 wrote:
Â· Â£400 of the potential ColleagueShares dividend payment will be made
in April 2008 to offices which have completed their deployment of the
agreed unit plan in Phase 2 of the modernisation process.

Dividends are usually settled on a cash basis

DGP1 · Post by **DGP1** » 27 Mar 2008, 22:18

k66yla wrote:
disgruntledpostie1 wrote:
Â· Â£400 of the potential ColleagueShares dividend payment will be made
in April 2008 to offices which have completed their deployment of the
agreed unit plan in Phase 2 of the modernisation process.
Dividends are usually settled on a cash basis

But remember the is Royal Mail here so it could be that we have to pay them the money

Stormproof · Post by **Stormproof** » 27 Mar 2008, 22:48

Should we be paying tax on our 'dividends'? I know nothing about Tax & NI, I found the following quote online

Dividends are treated as part of your income and as long as you remain a basic rate taxpayer there is no further tax to pay - in effect the company pays the basic rate tax for you. If you are a higher rate tax payer you will be assessed for the higher rate element in your annual self-assessment calculation.

DGP1 · Post by **DGP1** » 27 Mar 2008, 23:13

k66yla wrote:Should we be paying tax on our 'dividends'? I know nothing about Tax & NI, I found the following quote online
Dividends are treated as part of your income and as long as you remain a basic rate taxpayer there is no further tax to pay - in effect the company pays the basic rate tax for you. If you are a higher rate tax payer you will be assessed for the higher rate element in your annual self-assessment calculation.

It'll not be a 'dividend' but some sort of bonus so we pay tax and NI on the whole lot

although I must ask my financial advisor about it

Post by **dpb** » 27 Mar 2008, 23:16

disgruntledpostie1 wrote:
Â· Â£400 of the potential ColleagueShares dividend payment will be made
in April 2008 to offices which have completed their deployment of the
agreed unit plan in Phase 2 of the modernisation process.

It is not very clear whether it is cash or shares, maybe some of the union guys out there can let us know

disgruntledpostie1 , the section then goes on to discribe further colleague share pay outs of hundreds of pounds for 2008/9 using the same language terms.
regretably this indicates to me that it must all be dodgy shares , or could it be all cash. naaa

Night Tonic · Post by **Night Tonic** » 27 Mar 2008, 23:22

Yup -its a bit of beige paper with 'ColleagueShare Value Â£400' printed on with a fancy border.

madelin4 · Post by **madelin4** » 28 Mar 2008, 12:51

Night Tonic wrote:Yup -its a bit of beige paper with 'ColleagueShare Value Â£400' printed on with a fancy border.

So its not cash going into our bank accounts?????????????? what is the point!

Night Tonic · Post by **Night Tonic** » 28 Mar 2008, 12:57

I'm not sure anyone has the definitive answer on this one Madelin4 but if theres to be more trouble ahead, I doubt anyone will see the money anyway - cash or monopoly voucher

Post by **TrueBlueTerrier** » 28 Mar 2008, 14:17

1.4 To support modernisation phase one and two:

50:50 productivity scheme as set out in the appendix of this offer

Â£400 of the potential ColleagueShares dividend payment will be made in April 2008 to offices which have completed their deployment of the agreed unit plan in Phase 2 of the modernisation process.

The remaining potential dividend payment from ColleagueShares scheme over this year and next, split as follows:

Â£400 for achievement of Group profit in 2007/08
Â£200 for achievement of the local target for 2008/09.
Â£200 for achievement of Group profit in 2008/09

1.5 April 2008: A 1.5% increase for all grades on basic pay (including London pay ranges), weekday overtime and Scottish Distant Islands Allowance only.

This payment will be made locally when the flexibility defined as phase 3 in section two of this agreement has been implemented.

markj113 · Post by **markj113** » 28 Mar 2008, 14:30

Heard off a union rep today in swansea that royal mail may have moved the goal posts yet again. We have been told all along that the Â£400 was office based and that when we came to agreement over flexibilty changes we would be paid out. We were expecting our cash this friday or next friday but we have now been told that our area manager wants to keep this arrangment but Royal Mail as a business only wants to pay out the cash based on regional agreement delaying payment until 18/04/08

Keano · Post by **Keano** » 29 Mar 2008, 13:14

My Office have rejected it,so no money for me

ROYALMAILCHAT

Â£400 Flexibility payments

Re: Â£400 Flexibility payments