VR

[telegram_sam]

Hi, I am 62 yr old part time (20) hrs a week driver.
I have a good chance of being offered VR in the latest round of savings revision.
My union rep said I need to get out of the pension scheme in order to achieve a
two year pay off. Can anybody explain or advise me of this situation

Thanks in advance.

[taxi4leighton]

im same age
i would love chance of evr
i think if you have already taken pension,like me,you are entitled to 2 years
if your still in it,only 6 months
i think thats how it works
better getting professional advice though

[seaside]

well when these super sorting machines come in can imagine a lot of V.Rs

[rehabron]

.http://www.cwu.org/assets/cwu/legacy-as ... TSF_10.pdf" onclick="window.open(this.href);return false;
This link for the MTSF agreement should assist. Appendix 6 Voluntary Redundancy Terms should assist.

[barrowc]

There was a thread on a similar situation a couple of years ago - see here: http://www.royalmailchat.co.uk/communit ... 27&t=55818. It's very likely that coming out of the NRA65 pension before taking VR could be beneficial for you if you are over 60.

It's a tortoise and hare situation. Getting a bigger pension always wins in the long run but you might not be around to collect it.

If you can dig out your 2016 pension illustration (the proper one with the squirrels, not the nonsense we were sent last week) then it should be straightforward to calculate how many years or decades it would take to break even

[burnie1969]

was given a quote by my line manager for VR, i accepted this quote. That was nearly 2 WEEKS AGO! When should i hear back if i'm getting the vR. How long does the process take from the time you accept the offer of VR till you get the VR?

Thanks in advance

[Fatboyslim]

You will get a formal offer from HR. Sign it. Send it back. If you have a few years in. Your notice could be up to 12 weeks. Mine was. I was quite happy to work it.

[burnie1969]

Been 2 weeks since my manager sent away to HR for my offer and I've had nothing back from them. Is this normal?

[Fatboyslim]

Yes. The do not work quick. It's the formal offer from HR you need. It will be exactly the same as informal. Plus you do not get paid notice now. I signed up early Oct. Gone early Jan.

PM me if you want to know more...