Buy down information, please.

[zaphod]

Can someone confirm that if one is successful in getting buy-down, that they do NOT have to stay on for a further 2 years to keep the lump sum that you are offered?

There is, IMHO, some disinformation, or, someone has got it wrong. I beleive that if you go part time, that you cannot revert to full time for 2 years. Can someone help on this?

(edit:typos)

[dvbuk55]

Can someone confirm that if one is successful in getting buy-down, that they do NOT have to stay on for a further 2 years to keep the lump some that you are offered?

There is, IMHO, some disinformation, or, someone has got it wrong. I beleive that if you go part time, that you cannot revert to full time for 2 years. Can someone help on this?

It is my belief that on buy down you have to remain with the business for two years and within that two years you cannot return to full time, after the two years you could return to full time but I would imagine that full time duties would be as rare as rocking horse crap in two years.

My hours were bought down 18 months ago and you had to sign that undertaking then though it may have been changed since.

[wakkono]

very doubtfull that you would get offered any full time hours now anyway dude even if you wanted them

[leelatic]

A lad at our place got a buydown and I am sure he was told it was only a few months before he can leave.In fact he is going in the next few weeks and only got his money about 6 wks back.

[baldrick]

Managing the Surplus Framework Agreement. (2002)

Appendix 4.
Buy Down (hours) Policy

Sec 5.8 Agreement to the Buy Down and receipt of the Compensation Payment
will be subject to the employee's agreement that,

b) upon termination of his/her employment, except by reason of redundancy or on
increasing working hours or returning to full time work on a permanent basis,
during the period of two years immediately following the Buy Down ("the
Compensation Period"), he/she will refund a proportion of the Compensation
Payment to Consignia equivalent to the unexpired portion of the Compensation
Period; and

c) any monies owing in this respect may be deducted from his/her wages/salary
or any other payment due to be made from Consignia to him/her upon the
termination of his/her employment, including any payment in respect of
Voluntary Redundancy (Standard Form 1.4.A contains a pro-forma).

[dvbuk55]

c) any monies owing in this respect may be deducted from his/her wages/salary
or any other payment due to be made from Consignia to him/her upon the
termination of his/her employment, including any payment in respect of
Voluntary Redundancy (Standard Form 1.4.A contains a pro-forma).

Do my eyes deceive me or do I see reference to a terminology no longer relevant - and would it be legal????? Maybe you could get round this then by stating Consignia hadn't paid you any monies - any theories?

[baldrick]

Nice idea, but I was quoting from the copy agreement sent to us at the time.
I would think that it has probably been amended by RM's lawyers by now.

[TrueBlueTerrier]

Below is a direct copy from the CWU Northern Page

http://www.cwunorthern.co.uk/mtsf.htm


Appendix 4

Buy Down (hours) Policy

This document forms part of the Managing the Surplus Framework- Administrative and Operational Grades and should be read in the context of the Framework as a whole and all the documents which constitute it. Information for line managers on the deployment of the Framework is set out in the Guide to Deployment of Managing the Surplus Framework.

1. Purpose

The aim of this policy is to provide clear direction on how voluntary reduction in hours will be managed throughout Royal Mail Group plc.

2. Audience

This policy applies to all Administrative and Operational Grades.

3. Accountability

Personnel and Organisational Development Directors of the Division/Functions will retain overall accountability throughout the process and for the application of the policy.

4. Communication

4.1. Preference exercises will identify those interested in possible reduction in hours to facilitate placement of Surplus Employees.

4.2. Where opportunities occur individuals will be contacted by PCAs to discuss possible arrangements.

5. Policy

5.1. An employee may be permitted to reduce his/her hours (“Buy Downâ€

[dvbuk55]

Ah - shame!