General Secretary Dave Ward and DGSP Terry Pullinger sharing their thoughts on our Four Pillars agreement

Post by **dvbuk55** » 28 Feb 2018, 19:16

daveyeff wrote:emailed them again today. lets see if they answer this time.

Bearing in mind it's only 8 days, the road show is still ongoing and it took 18 months to reach the cusp such as it is

Post by **aiden01** » 28 Feb 2018, 21:37

daveyeff wrote:emailed them again today. lets see if they answer this time.

dingo has confirmed no changes to mtsf also says it mtsf was not even discussed in recent talks.

stevenshm · Post by **stevenshm** » 28 Feb 2018, 23:05

Im not 100% sure ill health retirement with or without lump sum falls under the MTSF agreement?
Hence the new ill health retirement offer in the pension booklet?

daveyeff · Post by **daveyeff** » 01 Mar 2018, 13:49

Finally got an answer from HQ, via the branch secretary at the 'toon'. this is what I received....

Davey :-Further to the query regarding the meaning of ''the scheme will no longer pay augmented benefits on redundancy or IHR''.

I have discussed this issue with HQ, who have confirmed my own thoughts on this issue, which are as follows,.....

REDUNDANCY- the current MTSF agreement states that members over 55 and NOT in the pension scheme receive up to 104 weeks pay as a redundancy payment.

Members over 55 and IN the pension scheme receive 6 months pay, and an enhancement (augmentation) of 75% of future service added to their length of service-i.e. a member with 25yrs service who was due to retire at 65, would receive 75% enhancement of their 10yrs left (7.5yrs) which is then added to their 25yrs service, giving them a pension based on 32.5yrs service.

The final payment on enhancement is capped at a maximum of 2yrs pay (104 weeks). .......Currently, most members over 55 leave the pension scheme if there are EVRs as the 104 weeks payment is worth more than the enhancement, even if the enhancement is worth more, its capped at 104 weeks anyway.

The changes mentioned on page 12 simply remove such an enhancement for those members over 55, who will now receive the same benefits as those NOT in the scheme, which is up to 104 weeks pay. All other elements of the MTSF are unchanged as a result of the new agreement.

IHR--The changes are broadly similar to those above. Members who currently leave the business on IHR with a pension receive 75% enhancement of their future service as described above. The change and what it is replaced with, is described in the box at the top of page 12.

This issue in particular affects a very small number of members, as most (99%) receive IHR with lump sum rather than IHR with pension. The lump sum payments have not/do not change as a result of the new agreement. These two changes are necessary as a result of the closing of the current pension scheme.

The new scheme does not guarantee the final pension payment, therefore any benefits based on the final pension need to be changed accordingly.

I hope this clarifies the issue.
Regards, branch secretary Newcastle amal.

That's the full email, its put my mind at rest on this issue.

stevenshm · Post by **stevenshm** » 01 Mar 2018, 17:09

Thanks Davey for information at least that clears that confusion up

Dorset Plodder · Post by **Dorset Plodder** » 03 Mar 2018, 09:43

daveyeff wrote:Finally got an answer from HQ, via the branch secretary at the 'toon'. this is what I received....

Davey :-Further to the query regarding the meaning of ''the scheme will no longer pay augmented benefits on redundancy or IHR''.

That's the full email, its put my mind at rest on this issue.

Well done mate

This is the type of query that the CWU needs to be clarifying/ highlighting..... just letting us know that RM haven't pulled a fast one. Just saying, "Well it's in the agreement you only have to read it". means bugger all to the majority of us, we're not experts. Easy to say Trust our Negotiators........ but we all know the type of Deals they've done in the past. Too late once we've voted Yes to the Agreement!