The Union received an offer last night on the Royal Mail 2006 pay review. This was the first open offer and was also described as the final offer. The offer consisted of a 2.9% increase in basic pensionable pay flowing through to weekday overtime rates only. The increase would not apply to other overtime or to allowances.
The offer also includes a form of words that set out parameters for further negotiations. These negotiations cover the bigger issues regarding the future of Royal Mail.
The offer does not include any detail of the level of projected savings from the recent efficiency agreement.
The Union’s postal executive is considering this offer today and further information will follow.