pay rate/'take home pay'

[FirstPost]

it seems different posties get paid differently up and down the Country, what is your pay rate and what do you take home?

[dolph999]

Pay rate where I am (midlands) £11.62hr

[cheerful]

I was just working this out:

Basic pay on 20 hour contract (after being there over a year): £232.41 (£11.61/hour)

You also get Delivery Supplement depending on your hours: £13.51 for a 20 hour contract (67.5p/hr)

Royal Mail Pensions Contrib. Pay (top right of your payslip) is worked out in a bizarre way, it's always below your real pay, but the employer contribution is 10% of that (£22.54/wk on a 20 hour contract, £1.13/hr)

So your hourly rate is £12.28 (wage)+£1.13 (straight to pension)=£13.41

Minus 6% pension (that's 6% of the Pensions Contrib. Pay, so slightly less than your real pay), tax, National Insurance and CWU (best investment you'll ever make).

Voluntary extra pension contributions get deducted from the left side of your payslip, so also reduce how much tax / N.I. you pay.

You'll likely also get bonuses occasionally, like 50 first class stamps at xmas (worth £38) and I'm sure we got a negotiated union bonus a few months ago with a very confusing description on the pay slip.

I can't find the figures, but your hourly pay goes down after doing ... 40 something hours? and up again after doing 50 something hours? Virtually no overtime at the moment and I can't remember the figures. I'm pretty sure there is an extra cost-of-living bonus if you work in London too.

[rambo1]

Doesn't go up again after 50 hrs btw. After 48hrs you just get more knackered for less than normal rate.

[FirstPost]

Pay rate where I am (midlands) £11.62hr

whats your take home pay?

[cheerful]

Might be hard for anyone who isn't a new starter to give an answer to that.

Depends on how many hours they do, loads of posties do overtime, with the 5 hour/day contracts (4h40m with break) it'd be impossible to do a 4h30m walk without overtime (prep / travel to the walk / back / unload).

And also loads of posties will have different deductions.

Quite a few buy an extra week or two annual leave (which gets deducted weekly from the payslip).

RM offer Salary Sacrifice, I'd think a lot would be using it, whether it's putting a bit extra in your pension every week, paying off some MyBundle tech gadget or even a car. They also do a fairly good value health plan (contact lenses and dentist check-ups rebates will cover the cost of the plan, effectively giving you the rest of the health benefits for free), and you can also buy RM shares at a discounted rate through your weekly wage slip.

Most deductions also reduce the N.I. and tax you pay too.

[blacov]

How do you buy shares at discounted rate? Would mind explaining how does it work. Personally I have never heard or seen it.

Speaking od deductions and take home pay. Some posties get London weighting. Those working in central London get more than those in the outer London. Basically almost every DO inside the m25 gets it. Their take home pay will be higher.

[yellowbelly]

How do you buy shares at discounted rate? Would mind explaining how does it work. Personally I have never heard or seen it.

This link: https://www.myroyalmail.com/PartnershipandMatching

There's also the RM Shares board on here, where you'll find some threads about it too.

[Iknockedtwice]

The hourly rates are the same no matter where you are.

Age 17 £8.13 + 6 months +12 months
Age 18+ £10.46 £11.04 £11.62

We get a “delivery supplement” and a “defined area supplement”. On a flat week of 30 hours I take home £305.

[blacov]

£523.73 basic pay (38hours) that would be £13.78 ph

[wallan]

Some long term Staff also get Grand father right allowances ,i.e Difficult Recrutement Area ,Driving , PHG Etc , which also effects the Hourly Rate