Post Office delivers £30 million remuneration improvement for Postmasters
On 27th March, the Post Office announced a package of remuneration improvements for Postmasters worth £30 million for the 2024 / 25 financial year.
Included in the package of remuneration improvements are:
A one-off remuneration boost, equal to 15% of Postmaster’s March 2024 trading, in variable remuneration. This will be paid in April 2024. Across the network, this equates to a nearly £5 million investment by Post Office.
An increase in Mails remuneration worth around £12 million as a result of Royal Mail tariff increases and remuneration increases for Royal Mail volume-based products such as pre-paid parcels and returns which will go up by 4.0% in line with CPI.
A 21% increase in remuneration for Postmasters handling DVLA transactions.
An average increase of 9.4% on outreach payments to Postmasters who operate mobile vans as outreach Post Offices to take into account the national living wage increase and changes in fuel prices.
In addition, Post Office has announced a complementary £3.5million investment to roll-out high-grade note counters for 2,800 of its largest banking branches. This will help automate the accurate processing of cash deposits.
You can read more about this here.