Opting out of Shares

[clashcityrocker]

By not opting out of the free shares offer employees will receive £2000 when they agree not to sue for unfair dismissal or been mistreated
Employees will also lose their redundancy protections as well as other rights

Therefore by creating a two tier workforce between those who have agreed or not agreed to exclude their employment rights would royal mail automatically select those who have excluded their rights when it comes to redundancy,performance related dismissals

So if you want to sell your soul for £2000 Crack on !

This is nonsense.

http://www.dailymail.co.uk/news/article ... borne.html" onclick="window.open(this.href);return false;

http://www.theguardian.com/commentisfre ... hts-scheme" onclick="window.open(this.href);return false;

http://www.cwu.org/royal-mail-privatisa ... offer.html" onclick="window.open(this.href);return false;

Read it before you post silly comments,it's people like you that royal mail want to opt in !

Given that I am probably one of the only people on this site that has stated they will be opting out of receiving the shares, your remarks are ignorant.
The shares for rights you have posted has absolutely nothing to do with the RM share issue. Had you been paying attention you would have known this.
Two posts and both factually incorrect.
Why join the forum to post lies and misinformation? Whose agenda are you promoting?

[Pinky 1]

By not opting out of the free shares offer employees will receive £2000 when they agree not to sue for unfair dismissal or been mistreated
Employees will also lose their redundancy protections as well as other rights

Therefore by creating a two tier workforce between those who have agreed or not agreed to exclude their employment rights would royal mail automatically select those who have excluded their rights when it comes to redundancy,performance related dismissals

So if you want to sell your soul for £2000 Crack on !

This is nonsense.

http://www.dailymail.co.uk/news/article ... borne.html" onclick="window.open(this.href);return false;

http://www.theguardian.com/commentisfre ... hts-scheme" onclick="window.open(this.href);return false;

http://www.cwu.org/royal-mail-privatisa ... offer.html" onclick="window.open(this.href);return false;

Read it before you post silly comments,it's people like you that royal mail want to opt in !

Your first two links are to newspaper articles that are nearly 12 months old ..........

and your third link is to the union page that quotes this

These features are inconsistent with what the Government has announced. A"Share Incentive Plan" (that is, an employee share scheme that is given tax advantages)must be offered on the same terms to all employees and must not contain terms that could act as a disincentive to join. The only permissible objective for a Share Incentive Plan is to give employees a continuing stake in the company - that excludes adding a secondary objective of making them give up employment rights.

Put simply, Share Incentive Plans and employee shareholder status are incompatible. We are being told that the Royal Mail employee share scheme will be a Share Incentive Plan. That means the Growth and Infrastructure Act provisions relating to employee shareholders cannot apply.

Did you read the article all the way through ?

[clashcityrocker]

No. 623/13
Ref: 21003
Date: 18th September 2013


To: All Branches with Postal Members


Dear Colleague


Government Employee Share Offer


We have received numerous enquiries as to whether CWU members should opt out of the Government offer of free shares, which is dependent on the privatisation of the Royal Mail Group.


The CWU position on this matter has been consistent since the Government first announced their plans. It would be wrong for the Union to advise members to opt out of receiving free shares. This is a matter for individual members to determine.


The CWU continues to be fundamentally opposed to privatisation. It remains our view that legal protections, pay, pensions, workplace issues and a strategy for growth, are all far more important to the future of CWU members than free shares.


On the question of any impact of the Growth and Infrastructure Act 2013 and the potential surrender of employment rights, the advice of our Lawyers is that employment rights are not affected by this scheme. We are preparing a full report on this aspect in line with the amendment carried at the July Policy Forum.


Any enquiries on the above LTB should be addressed to the DGS (P) Department.


Yours sincerely





Dave Ward
Deputy General Secretary (P)

[hgfonzy]

[quote="clashcityrocker"]No. 623/13
Ref: 21003
Date: 18th September 2013


To: All Branches with Postal Members


Dear Colleague


Government Employee Share Offer


We have received numerous enquiries as to whether CWU members should opt out of the Government offer of free shares, which is dependent on the privatisation of the Royal Mail Group.


The CWU position on this matter has been consistent since the Government first announced their plans. It would be wrong for the Union to advise members to opt out of receiving free shares. This is a matter for individual members to determine.


The CWU continues to be fundamentally opposed to privatisation. It remains our view that legal protections, pay, pensions, workplace issues and a strategy for growth, are all far more important to the future of CWU members than free shares.


On the question of any impact of the Growth and Infrastructure Act 2013 and the potential surrender of employment rights, the advice of our Lawyers is that employment rights are not affected by this scheme. We are preparing a full report on this aspect in line with the amendment carried at the July Policy Forum.


Any enquiries on the above LTB should be addressed to the DGS (P) Department.




So why are you opting out of £2000 then?

[Darren Bent]

I will take the shares but as far I am concerned I have no agreement with the company. It is CWU's responsibility for making sure our terms are good.

[hgfonzy]

I will take the shares but as far I am concerned I have no agreement with the company. It is CWU's responsibility for making sure our terms are good.

Take a look at page 34 of the guide to royal mail share offers book

It says

"Free shares

You accept

The invitation to participate in the plan and agree to be bound to the rules of the plan,including any amendments or additions which may subsequently be made to the rules of the plan"

[TrueBlueTerrier]

By not opting out of the free shares offer employees will receive £2000 when they agree not to sue for unfair dismissal or been mistreated
Employees will also lose their redundancy protections as well as other rights

Therefore by creating a two tier workforce between those who have agreed or not agreed to exclude their employment rights would royal mail automatically select those who have excluded their rights when it comes to redundancy,performance related dismissals

So if you want to sell your soul for £2000 Crack on !

This is nonsense.

Really, so why have the cwu posted it on their website? (3rd link down)
http://www.dailymail.co.uk/news/article ... borne.html" onclick="window.open(this.href);return false;

http://www.theguardian.com/commentisfre ... hts-scheme" onclick="window.open(this.href);return false;

http://www.cwu.org/royal-mail-privatisa ... offer.html" onclick="window.open(this.href);return false;

Read it before you post silly comments,it's people like you that royal mail want to opt in !

The Part about giving up rights if accepting shares is nonsense using your 3rd link

Will members have to surrender employment rights?

If the Government proceeds as planned, the answer is a clear "No". The Growth and Infrastructure Act 2013 created a new employment status called "employee shareholder". The relevant legislation will not come into force until 1 September. When it does, employers will be able to give shares with a value of up to £2,000 to their employees on condition that they give up employment law rights relating to some types of unfair dismissal, statutory redundancy pay and requests for time off for training. The notice that employee shareholder have to give before returning from parental leave is also longer than other employees.

However:

Taking up employee shareholder status must be voluntary

Volunteers must be given a clear statement of what rights they are giving up and what shareholder rights they are getting

They must be given access to independent advice paid for by the employer

They must be given a 7 day 'cooling-off' period.

These features are inconsistent with what the Government has announced. A"Share Incentive Plan" (that is, an employee share scheme that is given tax advantages)must be offered on the same terms to all employees and must not contain terms that could act as a disincentive to join. The only permissible objective for a Share Incentive Plan is to give employees a continuing stake in the company - that excludes adding a secondary objective of making them give up employment rights.

Put simply, Share Incentive Plans and employee shareholder status are incompatible. We are being told that the Royal Mail employee share scheme will be a Share Incentive Plan. That means the Growth and Infrastructure Act provisions relating to employee shareholders cannot apply.

Its also something that has been discussed on here in multiple threads. The rest of your OP is an opinion.

[fishtank]

So why are you opting out of £2000 then?

He's morally and ethically solvent.
I'm morally,ethically and financially bankrupt.

[hgfonzy]

Can everybody involved in this debate please click on this link http://www.gov.uk/employee-shareholders" onclick="window.open(this.href);return false;
It's the government website telling you exactly what rights you lose and what royal mail should be telling you

[RobertT]

Don't you think this link is more appropriate:

https://www.gov.uk/tax-employee-share-s ... plans-sips" onclick="window.open(this.href);return false;

[eroader]

Has anybody set a date for the opt out?

[RobertT]

Has anybody set a date for the opt out?

It's 25 days after RM sent out all the info, whenever that was.

[clashcityrocker]

Can everybody involved in this debate please click on this link http://www.gov.uk/employee-shareholders" onclick="window.open(this.href);return false;
It's the government website telling you exactly what rights you lose and what royal mail should be telling you

Why?
It's full of s**t that has got nothing to do with us.

[clashcityrocker]

Has anybody set a date for the opt out?

15/10 I think.

[whippet]

I don't think they should have sent out the opt out forms until we have received the prospectus