Royal Mail Share Incentive Plan Partnership and Matching
The DGS(P) Department has received a number of enquiries regarding material Royal Mail has issued concerning a new Partnership and Matching Scheme which, in the Company’s words offers “a flexible way to invest in Royal Mail shares”.
Partnership and Matching is a new element of the Royal Mail Share Incentive Plan that allows employees to use their pre-tax pay to purchase Royal Mail shares ‘Partnership Shares’ on a monthly basis. Royal Mail will then add to the shares by giving you ‘Matching Shares’ for free. Those interested need to apply by Friday 17th August by logging on to the Employee Share Plan portal http://www.royalmailemployeeshares.co.uk or by calling the Employee Shares Helpline on 0800 012 12 13.
The new share arrangement offers similar tax advantages to SIP free shares which were first allocated to eligible employees at the time of privatisation in 2013. In October of this year, those owning free shares allocated in October 2013, will for the first time, be free to sell these shares without incurring any tax or national insurance deductions.
Branches will be aware that the CWU opposed Royal Mail privatisation in 2013 and that Union policy is to support full renationalisation of Royal Mail Group and reintegration of the Post Office.
The CWU has never agreed the share scheme or negotiated over its operation. What members therefore choose to do in relation to these shares is entirely a matter for the individual concerned.
The Union is not in a position to offer any financial advice and any questions about the operation of the share scheme should be addressed to Royal Mail and/or the scheme administrator Equiniti.
Any enquiries in relation to the content of this LTB should be addressed to the DGS(P) Department.
Deputy General Secretary (Postal)