BT Pay – There is a major advantage to consolidation
Further to the briefing on Monday 28th November, which set out an overview of the proposal to resolve the pay dispute with BT. It is important to clarify the following, as some of you have asked why there is no backdated payment. Backdating would mean a significantly reduced consolidated amount from 1st January 2023. The larger the amount of a consolidated pay increase the more it is worth in terms of both immediate and future monthly pay. This is the reason that consolidation of the maximum sum possible must always be the priority.
A consolidated £1500 flat-rate paid from 1st January is worth the same for everyone, as follows:
· It increases your annual pay by £1500, which in turn increases your monthly pay by £125 from Jan 1st 2023.
· This is on top of the £125 per month you have been receiving since 1st April 2022.
· Combined from 1st Jan 2023 you will receive an extra £250 every month into the future
· Consolidation is a permanent increase in salary.
· Consolidation increases your hourly rate of pay, which flows through to pay related payments, such as overtime and bank holiday premiums.
· A consolidated and pensionable increase means the employer pays more into your pension pot.
· Consolidation means all future percentage pay rises will be built on a higher base salary and therefore worth significantly more.
· Consolidation means that the value grows as each month passes, unlike a lump sum payment which once spent is gone forever.
· Consolidation also means that bonus based on a percentage of salary also increases.
The combination of the two £1500 pay awards (from April 2022 and January 2023 respectively) will result in you receiving pay amounting to £4875 by March 2024 (see table below). There is an additional benefit on any overtime worked which will be based on increased hourly rates.
There will be a pay review in September 2023 which will result in the figures above increasing further.
You will get a vote on the proposed pay increase via a consultative ballot. The ballot is scheduled to commence on the 6th December 2022.
We strongly recommend that you cast your vote to Accept the proposed pay increase.
Andy Kerr – Deputy General Secretary
Dave Ward – General Secretary