the deal?

[dvbuk55]

A little off topic but do the colleague share still exist.We were due a pay out next year or the year after.

Yes, at this moment in time they do.

However CS has been part of the talks, so change may well be on the cards. CWU would idealy like that money put into basic pay. That has been their stance since day 1

Well it should have been in basic pay from the word go. I think there may well be a little bit of umbrage taken if apart from the ESA being lumped in as a pay rise or supplement and then the colleague share money both of which are already ours is used as a pay increase as well - it's not the first time its been done.

[fishtank]

I wasnt suggesting it was for you or I to decide, however as members of the CWU who wil be voting on the any set of proposals that may emerge, we can state our preferences can we not? My preference is for all CS money to go into basic pay, so it is there in our pay week after week, month after month year after year. That would mean over time we would catch up with all the CS money AND overtake it. In the long term we are better off!!!!!

CS money is finite, Basic pay isnt.

You are 100% spot on with the new/old money statement, CWU policy is pay restructuring as well as payrise and members need to rember that.

I am not an accountant so i do not presume to know which would give the better long or short term benefit to members.
I would imagine it would depend just how long term your future with RM was.
The final value of the CS IF RM played by the rules would be a considerable sum of money.
Lump sums,if invested or used to reduce debt can also have long term value.
Whichever way it goes as long as HQ is 100% open and honest with members i will accept the decision of the membership.

[Big Daz]

The current yearly pay out is £400 so thats £400/52 to go onto basic pay which means £7.69 on the weekly basic for Royal Mail Group Staff. Then there is the big payout whose value is not yet known. For those with plenty of service left such as myself (30 years) then im better off with that money going into basic, but if your retiring say within the next 24 months or taking a exit package, then the CS lump sums at the end of the scheme may well suit some members better.

[fishtank]

The current yearly pay out is £400 so thats £400/52 to go onto basic pay which means £7.69 on the weekly basic for Royal Mail Group Staff. Then there is the big payout whose value is not yet known. For those with plenty of service left such as myself (30 years) then im better off with that money going into basic, but if your retiring say within the next 24 months or taking a exit package, then the CS lump sums at the end of the scheme may well suit some members better.

Your maths is flawed,it assumes all RM staff qualify for CS payouts.
They don't and your "pay rise" would be spread much more thinly than £7.69.

[belle smith]

I would suspect that if the rummors of cash lump sums being paid out as part of this deal are true then they will be inplace of the CS money rather than in addition to it.

[Lincox]

I would also doubt whether CS money would be used to up basic, because that money is not their for ever and a day. The CS scheme only goes on to 2012. Any increase in basic imo will come from existing D2D programme and an estimate of what income will be if D2Ds are increased, together with integration of other regular payments that some posties currently receive such as ESA, and future increases in stamp charges. IMO there will be little new money used to provide much higher basics as they will always use the pension deficit and 'modernisation' to keep us on the lowest wages they think they can get away with. I will be concentrating my mind on what extra duties/delivery times they build into the agreement, and far less on the financial, as I know damn well there will be little in it as far as money is concerned. Dont get hypnotised by a few lump sums with 00,000s in them, as we will be giving that money up somewhere else.

[k979aaa]

CS is our share in failure and what will the shares be valued at with a turnover of 6.5 billion pounds and a pension deficit of 10.5 billion pounds!. GET REAL ANY SHARE'S ARE FOOL'S GOLD AS SUCH AS ARE ALL PROMISES FROM MANAGEMENT!.

[Puppetmaster]

Agree with you Fishtank. It worries me more what I will be expected to do for any financial carrot. Any extension of delivery hours will play right into Royal Mails plans of getting rid of experienced posties in order to achieve a work force earning minimum wages. It plays right into their sickness stage warnings/sack, because additional hours on delivery can only mean more physical problems for posties, more time out, despite their claims to take weight off the shoulders. Do they not realise that we have two legs as well as shoulders, that take most of the stress. Ill happily stay on current pay rather than put my body under any further stress than it already gets. I dont think Dingo and others that are advocating that this is the only way we can keep full time jobs, really understand that pay is not the major criteria for many of us. Health must always override wealth. You cannot care for your families if you are 6ft under the ground.

You took the words right out of my mouth.!!!

This should be in the minds of our negotiators,many guys I know are saying they willl not be capable of doing longer walks.
I thought this was 1 of the reasons we went on strike for and lost money ,it was for me and to go on the picket lines.

Now the CWU are telling us its ok to do longer walks without asking us. Its not taking the weIght of our shoulders its the stress on our body ,many many guys I know use trolleys out of choice and these are the guys saying that we could not do any more ,ITS DUE TO HEALTH ISSUES THEY USE TROLLEYS !

HEATH should be the main consideration above anything else,let the negotiators understand this and deliver it after all we are in 2010 not 1910

[fishtank]

CS is our share in failure and what will the shares be valued at with a turnover of 6.5 billion pounds and a pension deficit of 10.5 billion pounds!. GET REAL ANY SHARE'S ARE FOOL'S GOLD AS SUCH AS ARE ALL PROMISES FROM MANAGEMENT!.

To be completely honest k979aaa,unless the Goverment takes responsibiliy for the pension deficit it will not matter whether the shares are real or imagined we will not be around to enjoy them.
But if they do the value of this company will rise dramatically.

[k979aaa]

CS is our share in failure and what will the shares be valued at with a turnover of 6.5 billion pounds and a pension deficit of 10.5 billion pounds!. GET REAL ANY SHARE'S ARE FOOL'S GOLD AS SUCH AS ARE ALL PROMISES FROM MANAGEMENT!.

To be completely honest k979aaa,unless the Goverment takes responsibiliy for the pension deficit it will not matter whether the shares are real or imagined we will not be around to enjoy them.
But if they do the value of this company will rise dramatically.

That is a big IF and will only come about with the sale of royalmail so why would they give you and me a stake in that these CS were a con introduced by :lfo who has left the business for he has nothing to lose same for this clown. :cfo

[belle smith]

CS is our share in failure and what will the shares be valued at with a turnover of 6.5 billion pounds and a pension deficit of 10.5 billion pounds!. GET REAL ANY SHARE'S ARE FOOL'S GOLD AS SUCH AS ARE ALL PROMISES FROM MANAGEMENT!.

To be completely honest k979aaa,unless the Goverment takes responsibiliy for the pension deficit it will not matter whether the shares are real or imagined we will not be around to enjoy them.
But if they do the value of this company will rise dramatically.

That is a big IF and will only come about with the sale of royalmail so why would they give you and me a stake in that these CS were a con introduced by :lfo who has left the business for he has nothing to lose same for this clown. :cfo

Its not a big if. They will take the pension deficit whatever they say it's in there best intrests. Royal Mail will be privitised irrespective by a Conservitive goverment.

The whole point of the CS was a one off payment to cut our pensions. The same as the £400 dividends were one off payments to rip up our terms and conditions.

[POSTMAN]

This is wrong CS should have nothing to do with a pay rise and the monies in it should not be used.

[Big Daz]

Isnt CS simply diverting money away from where it should be in the first place? Basic Pay!!!!

Once the scheme ends, what then? Are we going to let RM keep the funds or are we going to put our national officers on the cae for the money to be captured into basic pay?

[Stormproof]

This is wrong CS should have nothing to do with a pay rise and the monies in it should not be used.

Totally agree after all people who have taken EVR/IHR have cashed theirs in already so we should have the oppourtunity to cash ours in when the time comes, whether they will be worth anything then I don't know

[antcpfc]

This is wrong CS should have nothing to do with a pay rise and the monies in it should not be used.

Totally agree after all people who have taken EVR/IHR have cashed theirs in already so we should have the oppourtunity to cash ours in when the time comes, whether they will be worth anything then I don't know

If they slash and burn at the present rate they will be worth a fortune.Less employees means bigger profits