Postmasters will receive a 15% top-up of their variable remuneration in June from the Post Office.
The Post Office had previously guaranteed independent postmasters 100% of their remuneration in April and 90% in May. The guarantee covered both fixed and variable remuneration. The rate of remuneration reflects previously announced increases that came into effect on 1 April. All branches that are currently receiving fixed remuneration will continue to do so in June.
Branches operated by independent Postmasters that are struggling to remain open or to open at all in May and are not eligible for coronavirus financial support from the UK Government may receive additional support from the Post Office in the form of a hardship payment to provide immediate relief.
Nick Read, Chief Executive at the Post Office, said: “I am grateful to Postmasters for doing all they can to keep their branches open and serve their local community during the Covid-19 pandemic. Being able to guarantee April and May’s remuneration has been vital in providing stability for our Postmasters. The support on offer for June allows Postmasters to plan ahead. No Postmaster should feel like they are unable to keep trading or re-open their branch as a result of coronavirus which is why we will provide targeted support for these branches.”
The 15% top-up of variable remuneration for June will be available to all agent branches including multiples, and will be based on May’s trading for that branch.