MTSF2 Agreement Amendments......

[pj2001]

Could someone explain what the amendments to the mtsf2 agreement are, and what does it now mean to any evr payments made after October 1st.

[The Backbone]

EVR payments will not exceed two years salary, as before they enhanced the pension contribution which i guess cost them alot more money than the standard VR packages...So i guess you can still take your pension but it will come at a greater sacrifice than before..

[TrueBlueTerrier]

http://www.royalmailchat.co.uk/communit ... 15&t=71412" onclick="window.open(this.href);return false;

[teesdale]

Still don't get that lifting of the redundancy cap, a very confusing paragraph. Is it that on leaving no one could ever take away more than two years pay, if vr or evr. So vr 22 years service gets 2 years money. Evr immediate pension after 55 years old cannot be more than half a years pay + pension value to date + enhancements to pension by Royal Mail totalling no more than one and a half years pay. Before pension could be enhanced by 6 two third years which is 4 years. Going down from 4 years to one and a half is a 62.5% decrease! Anyone, please tell me I've got this wrong.

[baldrick]

Before pension could be enhanced by 6 two third years which is 4 years. Going down from 4 years to one and a half is a 62.5% decrease! Anyone, please tell me I've got this wrong.

I don't understand the amendment. But you have got this bit wrong. The original MTSF agreement lowered the previous enhancement (which was up to 6 years and 8 months) to 37.5% of remaining reckonable years to 65.

[Tman]

Still don't get that lifting of the redundancy cap, a very confusing paragraph. Is it that on leaving no one could ever take away more than two years pay, if vr or evr. So vr 22 years service gets 2 years money. Evr immediate pension after 55 years old cannot be more than half a years pay + pension value to date + enhancements to pension by Royal Mail totalling no more than one and a half years pay. Before pension could be enhanced by 6 two third years which is 4 years. Going down from 4 years to one and a half is a 62.5% decrease! Anyone, please tell me I've got this wrong.

Wouldn't know, but RM and the CWU both announced the reinstatement of the cap, but didn't explain what it meant to those affected. No-one as yet seems to know enough to explain what it means.

[teesdale]

Thanks, I now remember seeing that 37.5% somewhere. Bit of a lottery what is available on evr until you get your own personal statement.