Budget

[heapsy]

minimum wage is ment to jump to 11.89 means its getting closer and closer to new contracts wages

NMW is £11.44 now so that would hardly be a jump.

Wrong. The minimum wage is going up to £12.21.

[heapsy]

Why can’t cwu sort out a pay rise for 2025?.

Been told 1-5% to 2% no strings attached.

They’re in talks about it now.

They also want to ditch D2Ds? What will that mean for the Delivery Supplement and shouldn’t that be part of the discussion because they could give with one hand and take away with another?

D2D's aren't anything to do with the Delivery Supplement so it shouldn't be affected - should it? We're constantly told D2D's are a big money spinner for RM so not sure they'd want to ditch them.

(Waits for discussion about D2D payments/Delivery Supplement to raise its head again ).

The smaller of the delivery supplements is everything to do with D2Ds. It replaced the "per item" payment we used to receive.

[Wullie10]

According to investors chronicle
"Despite speculations, no changes to tax-free cash or pension tax relief were announced either, meaning that pensions survive the Budget relatively unscathed."

Happy days

For now. Don't think they won't come back once they piss this years budget against the wall.

[Kevin.r.smith]

They didn’t so move on Wullie

[RobertT]

Wasn’t there something about unclaimed pensions coming under IHT rules as part of the estate?
Not sure what the actual change is

At the moment funds held in DC pension schemes aren't subject to the IHT regime on death, so they're not taxed in the same way as savings and property can be.

That will now change in 2027.

IHT info: https://www.gov.uk/inheritance-tax

[posted]

Wasn’t there something about unclaimed pensions coming under IHT rules as part of the estate?
Not sure what the actual change is

At the moment funds held in DC pension schemes aren't subject to the IHT regime on death, so they're not taxed in the same way as savings and property can be.

That will now change in 2027.

IHT info: https://www.gov.uk/inheritance-tax

so die before 2027, if you (or rather inheritors) want avoid it?

[RobertT]

Wasn’t there something about unclaimed pensions coming under IHT rules as part of the estate?
Not sure what the actual change is

At the moment funds held in DC pension schemes aren't subject to the IHT regime on death, so they're not taxed in the same way as savings and property can be.

That will now change in 2027.

IHT info: https://www.gov.uk/inheritance-tax

so die before 2027, if you (or rather inheritors) want avoid it?

As my above link suggests, there are ways to mitigate IHT.

This article says that only about 4% of estates currently pay IHT, but that's expected to increase over the next few years. For an average family leaving assets to husband/wife and then to children/grand children, the allowances are probably more generous than you think: https://www.bbc.co.uk/news/business-36014533

[NorthernBoy]

Budget ?
I'm intending leaving the sinking ship of royal fail in the summer of 2027 , I'll be 55 with 30 odd years in and I'll take the lump sum and no doubt small pension and gain another job stress free elsewhere, I'm just concerned about this up coming budget all I hear is that pensions will be attacked, will this affect me and general royal mail staff ?

I am ex RM and now work just for just above minimum wage my partner is also on just above the minimum. Both our employers give us stress and work us very hard. As wages at the bottom end are rising so is the amount of work they want off you.

I am not saying you won’t find a job with less stress, but do not assume this is a given. Good luck with your plans.

[TopperGas]

Why can’t cwu sort out a pay rise for 2025?.

Been told 1-5% to 2% no strings attached.

They’re in talks about it now.

They also want to ditch D2Ds? What will that mean for the Delivery Supplement and shouldn’t that be part of the discussion because they could give with one hand and take away with another?

Hmm that part about d2ds is interesting, I suppose they don't really fit in too well with the concept of only "walking the streets" 5 times per fortnight or whatever, I also wonder what the profit on them is taking into account having to staff all the departments related to them as it's obviously a lot more than simply us delivering them, I'm thinking the sales dept,the place they're bundled and labelled etc, even transported to the mail centres is that done independently to other mail ? All those points could lead to a lot of jobs going, maybe the profit isn't as good when you deduct all the operating costs I've thought of, maybe there's more.

Oh yeah we're all aware (well most of us) that the delivery supplement isn't specifically for d2ds but I wouldn't put it past them to try and remove it.

Reason I mention the Delivery Supplement is because new contracts don’t receive it and their perception of it is that it means they are not paid to put together or deliver D2Ds.

So there is already a precedent for not paying it.

It's totally different not being paid on a new contract and losing a benefit somebody is already receiving, if RM want to remove that from existing staff they will have to compensate them.

[Barnacle]

Why can’t cwu sort out a pay rise for 2025?.

Been told 1-5% to 2% no strings attached.

They’re in talks about it now.

They also want to ditch D2Ds? What will that mean for the Delivery Supplement and shouldn’t that be part of the discussion because they could give with one hand and take away with another?

Hmm that part about d2ds is interesting, I suppose they don't really fit in too well with the concept of only "walking the streets" 5 times per fortnight or whatever, I also wonder what the profit on them is taking into account having to staff all the departments related to them as it's obviously a lot more than simply us delivering them, I'm thinking the sales dept,the place they're bundled and labelled etc, even transported to the mail centres is that done independently to other mail ? All those points could lead to a lot of jobs going, maybe the profit isn't as good when you deduct all the operating costs I've thought of, maybe there's more.

Oh yeah we're all aware (well most of us) that the delivery supplement isn't specifically for d2ds but I wouldn't put it past them to try and remove it.

Reason I mention the Delivery Supplement is because new contracts don’t receive it and their perception of it is that it means they are not paid to put together or deliver D2Ds.

So there is already a precedent for not paying it.

It's totally different not being paid on a new contract and losing a benefit somebody is already receiving, if RM want to remove that from existing staff they will have to compensate them.

Exactly. So I don’t know why this wasn’t raised at the AGM when the topic of ditching D2Ds altogether came up.

[skodamanpat]

Budget ?
I'm intending leaving the sinking ship of royal fail in the summer of 2027 , I'll be 55 with 30 odd years in and I'll take the lump sum and no doubt small pension and gain another job stress free elsewhere, I'm just concerned about this up coming budget all I hear is that pensions will be attacked, will this affect me and general royal mail staff ?

I am ex RM and now work just for just above minimum wage my partner is also on just above the minimum. Both our employers give us stress and work us very hard. As wages at the bottom end are rising so is the amount of work they want off you.

I am not saying you won’t find a job with less stress, but do not assume this is a given. Good luck with your plans.

Yup I found that on the outside the lower your wage, the fewer your hours, or being agency staff meant the management/ company tended to treat you with greater contempt.

[ted_e_bear]

Exactly. So I don’t know why this wasn’t raised at the AGM when the topic of ditching D2Ds altogether came up.

Barns, what was actually mentioned regards d2ds. ?

[Barnacle]

Exactly. So I don’t know why this wasn’t raised at the AGM when the topic of ditching D2Ds altogether came up.

Barns, what was actually mentioned regards d2ds. ?

That RM wants to ditch its D2D contracts.

[SpacePhoenix]

Exactly. So I don’t know why this wasn’t raised at the AGM when the topic of ditching D2Ds altogether came up.

Barns, what was actually mentioned regards d2ds. ?

That RM wants to ditch its D2D contracts.

What RM should do is work with the D2D companies to get the D2D items into machine sortable envelopes, then we could sequence them on the CSS machines

[Barnacle]

Exactly. So I don’t know why this wasn’t raised at the AGM when the topic of ditching D2Ds altogether came up.

Barns, what was actually mentioned regards d2ds. ?

That RM wants to ditch its D2D contracts.

What RM should do is work with the D2D companies to get the D2D items into machine sortable envelopes, then we could sequence them on the CSS machines

Yes. If they were easier to process and deliver, more would be delivered and the count would be more accurate.