VR Query, Myth or for real???

[parcelpete]

Hi There,
Can anybody clarify how much VR I would get for 10yrs service (No RM pension) got my own s**t sorted.
I heard that RM are so desperate to get the F/T head count down and are willing to pay a minimum of 2ys pay, (42K before tax) + 12 weeks Pilon + you get to keep your shares.
Someone else said I would only get 26 weeks pay + all of the above.
Anyone have a clue which is correct?????

[baldrick]

I don't think RM are that desperate. It depends on your age, but with only 10 year's service you would get 26.25 weeks VR at age 26, increasing to 56.25 weeks VR at 64.
If you are between 55-64.5 years old you would get immediate payment of accrued pension (slightly enhanced) plus 26 weeks VR payment.
RM are offering PILON in some offices if the VR process is completed by 27 March.
But there are only a limited amount of VRs on offer, and even if it is being offered in your office you might not get it with only 10 years' seniority.

edit: I believe you do get to keep your RM shares if you leave on VR or EVR.

[RobertT]

Hi There,
Can anybody clarify how much VR I would get for 10yrs service (No RM pension) got my own s**t sorted.

If you’ve never been a member of the RM pension scheme/s you would get a maximum of 104 weeks pay, but the exact amount would depend on age and length of service. Try looking at the ready reckoner here to give you an idea of the amount you’d get:
http://www.royalmailchat.co.uk/communit ... 36&t=65698" onclick="window.open(this.href);return false;

I heard that RM are so desperate to get the F/T head count down and are willing to pay a minimum of 2ys pay, (42K before tax) + 12 weeks Pilon + you get to keep your shares.
Someone else said I would only get 26 weeks pay + all of the above.
Anyone have a clue which is correct?????

Two years or 104 weeks pay is currently the maximum amount but they are offering PILON as an incentive until the end of March I think. And as you’d be a ‘good leaver’ you get to keep the shares too.
Try looking at the MTSF agreement for more info:
http://www.royalmailchat.co.uk/communit ... 36&t=33667" onclick="window.open(this.href);return false;
Page 21 is what you want!


On a separate note, why on haven't you got a RM pension? Don’t you like free money?