IHR After 37YEARS

tessa · Post by **tessa** » 13 Apr 2016, 19:49

Hi Guys and Girls
After 37 years with Royal Mail, looks like i,m looking at IHR. I,m now 63, my question is if my how much am i likely to get ? Is it 34 weeks based on my gross weekly pay or is based on my take home pay £354 a week and is this taxable and what PION would i get? and is that taxable?

k979aaa · Post by **k979aaa** » 13 Apr 2016, 20:10

tessa wrote:Hi Guys and Girls
After 37 years with Royal Mail, looks like i,m looking at IHR. I,m now 63, my question is if my take home pay is £354 a week, how much am i likely to get , and is this taxable and what PION would i get? and is that taxable?

First £30,000 non tax and you get your shares as well tax free if you don' go over £30k

k979aaa · Post by **k979aaa** » 13 Apr 2016, 20:12

PILLON is 12 week's plus any accrued leave good luck.

k979aaa · Post by **k979aaa** » 13 Apr 2016, 20:15

Take home pay is not what you need to work it out it is gross pay times 52 weeks

tessa · Post by **tessa** » 13 Apr 2016, 20:30

Why the gross pay over 52 weeks? no matter what surely they are only going to pay me 34 weeks.
Am i missing something, thanks for your help anyway "not very good at this"

shepherdess · Post by **shepherdess** » 13 Apr 2016, 20:49

104 weeks is the max for evr not I'll health

tessa · Post by **tessa** » 13 Apr 2016, 20:55

Where did the 104 weeks come from.

shepherdess · Post by **shepherdess** » 13 Apr 2016, 21:15

Mtsf agreement

shepherdess · Post by **shepherdess** » 13 Apr 2016, 21:21

1.5 weeks pay for every years service times 3.75

rehabron · Post by **rehabron** » 14 Apr 2016, 05:29

IHR is 34 weeks + 12 weeks ( PILON) Max on length of service + outstanding leave in financial year. First lump sum of £30,000 tax free.

Post by **RobertT** » 14 Apr 2016, 05:37

rehabron wrote:IHR is 34 weeks + 12 weeks ( PILON) Max on length of service + outstanding leave in financial year. First lump sum of £30,000 tax free.

Agreed! References to 104 weeks and 1.5 weeks x 3.75 relates to voluntary redundancy, which is a totally different thing.

k979aaa · Post by **k979aaa** » 14 Apr 2016, 19:10

tessa wrote:Why the gross pay over 52 weeks? no matter what surely they are only going to pay me 34 weeks.
Am i missing something, thanks for your help anyway "not very good at this"

Peoples gross pay can be higher during certain times just average it out over the year and divide it by 52 weeks who knows what shift pattern you were on or what allowances.

Chelseablue · Post by **Chelseablue** » 18 Apr 2016, 18:43

20 years service , struggling , not sure if i will get better in near future , dont want evr or ihr though so im trying to keep going . The pay offs not that much is it esp if you cant find work soon as poss . .?