Redundancies

[madelin4]

It seems a lot , 1200 per year!! do you think that April will change a lot of things in the MTFS agreement? EVR and IHR etc etc?

[baldrick]

According to the compensation calculator sent to us by RM there is a minimum payment of 26 weeks
pay, after 2 years service to 8 years service. For 9 years its 27 weeks pay. For 10 years it's 30 weeks pay.
For every year from 11 on it's an additional 4 weeks pay, up to a maximum of 104 weeks at 28 years.
There used to be an additional payment of 2 weeks for every year after the age of 40, but I believe
that RM does not pay that anymore as they claim it would contravene Age Discrimination legislation.

[oypostie]

There used to be an additional payment of 2 weeks for every year after the age of 40, but I believe
that RM does not pay that anymore as they claim it would contravene Age Discrimination legislation

How convenient for them !!!

[NewPostieUK]

There used to be an additional payment of 2 weeks for every year after the age of 40, but I believe
that RM does not pay that anymore as they claim it would contravene Age Discrimination legislation.

I finished at my last place just in time to get that. A few months later the over 40's who left didn't get it, so I don't think it's just a RM thing.

[baldrick]

No it probably isn't just an RM thing. Other employers must have also used the Age Discrimination
legislation which came into effect in October 2006 to cut age related payments.
But they could have increased the redundancy payments by two weeks extra for every year
after say 20 years service, so it would have been service related rather than age related.
People who applied for a VR quote at my MC last year were offered less than they had been
offered during the last VR trawl because they no longer got the over 40 supplement.

Add: I've read that the Statutory Redundancy (minimum) payment is half a week's pay for every year between 18-21,
one week's pay for every year between 21-40, and one and a half week's pay for every year from 41.
So if the Government's legal redundancy payment is based on age, why can't RM's (and other employers) be?

[postghost]

According to the compensation calculator sent to us by RM there is a minimum payment of 26 weeks
pay, after 2 years service to 8 years service. For 9 years its 27 weeks pay. For 10 years it's 30 weeks pay.
For every year from 11 on it's an additional 4 weeks pay, up to a maximum of 104 weeks at 28 years.
There used to be an additional payment of 2 weeks for every year after the age of 40, but I believe
that RM does not pay that anymore as they claim it would contravene Age Discrimination legislation.

No doubt this will be pro-rata for part timers!!!

SHAFTED AGAIN!!!!!!!!!!!!

[Stormproof]

Heard today that my DO won't be offered EVR, tho the staff in the MC we are attached to will be

[baldrick]

According to the compensation calculator sent to us by RM there is a minimum payment of 26 weeks
pay, after 2 years service to 8 years service. For 9 years its 27 weeks pay. For 10 years it's 30 weeks pay.
For every year from 11 on it's an additional 4 weeks pay, up to a maximum of 104 weeks at 28 years.
There used to be an additional payment of 2 weeks for every year after the age of 40, but I believe
that RM does not pay that anymore as they claim it would contravene Age Discrimination legislation.

No doubt this will be pro-rata for part timers!!!

SHAFTED AGAIN!!!!!!!!!!!!

I'm afraid it would be pro-rata.

[ldsposti]

hi where you say its a minimum 26wks pay for 2yr to 8yr is it per year or is it if you have say 6yr sevice the max you will get is 26wks.

[campostie64]

is your pension frozen if you take redundancy ?

[POSTMAN]

is your pension frozen if you take redundancy ?

Yes,because you wont be paying into it.

[baldrick]

hi where you say its a minimum 26wks pay for 2yr to 8yr is it per year or is it if you have say 6yr sevice the max you will get is 26wks.

Yes. It is 26 weeks payment, whether you have 2, 3, 4, 5, 6, 7, or 8 years service.

[NWpostie]

If RM is keen for you to go under VR terms, it would have to be worth your while to do so.

[baldrick]

Bear in mind though that if you take VR or EVR you will be disqualified from Job Seekers Allowance
for six months, as you have voluntarily left paid employment.
You might qualify for Supplementary Benefit, depending on your circumstances, but it would be
reduced.
And getting another job might not be easy given the current economic circumstances.

[KREBB]

http://business.timesonline.co.uk/tol/b ... 627633.ece" onclick="window.open(this.href);return false;

February 1, 2009

SFO staff get huge payoffsDavid Leppard
DOZENS of staff at the Serious Fraud Office (SFO) have been offered early-release payoffs worth up to £240,000 after a secret Whitehall report found its work was being undermined by alleged cronyism and incompetence.

The SFO, which received £42m from the government last year to tackle Bernie Madoff-style fraud, has offered many of its lawyers and accountants gold-plated pensions and lump-sum payoffs, in some cases worth three times their salary.

The move follows a confidential review of the agency by Jessica de Grazia, a former US prosecutor, who found a widespread perception of cronyism where staff believed the agency was “a bit of an old boy’s club”.

The unpublished report, seen by The Sunday Times, said staff were promoted because they were “nice”. Some employees felt this was because they were “friends of the [then] director”.

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SFO officials said it was “like a rudderless ship [with] the blind leading the blind”.

John Lawson, head of Standard Life pensions, said the payoffs were “an offer to die for”.