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VR offer in our office

Postal workers discussion forum. Discuss the day to day life in a Blue Shirt.
baldrick
EX ROYAL MAIL
Posts: 5038
Joined: 13 Sep 2007, 23:37
Gender: Male

Re: VR offer in our office

Post by baldrick »

north london driver wrote:
OnAFlyer wrote:
philsdeals19 wrote:Their offering £16000 for 29 years.Not worth considering. £6300 buy down to 25 hours.
That's not anywhere close to the right amount is it? 29 years should be £30k+.
add on another 10k to 13k on to your 30k would be about right (taxed after 30k).
If you are just talking about just a VR payment (ie you are not in RM pension scheme), it would depend on your age, but with 29 years service, if you are over 46 years of age you would get the maximum 104 weeks VR.
If you are 55 or over and in a RM pension scheme you would get 26 weeks and immediate payment of pension.
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Darren Bent
Posts: 2150
Joined: 05 Oct 2007, 15:38
Gender: Male
Location: Pride Park, Derby, DE24 8XL

Re: VR offer in our office

Post by Darren Bent »

is this weekly pay without tax and national insurance x length x age ?

Applied for it, and I have to see what happens.
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baldrick
EX ROYAL MAIL
Posts: 5038
Joined: 13 Sep 2007, 23:37
Gender: Male

Re: VR offer in our office

Post by baldrick »

Darren Bent wrote:is this weekly pay without tax and national insurance x length x age ?
The VR payment is based on your average weekly gross pensionable pay over the 26 weeks before you get the VR.
It would include tax, NI, and any other deductions. Also any pensionable allowances such as shift allowance.
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