ALL independent postmasters who have kept their branches open during the COVID-19 crisis will receive payment – the Post Office has confirmed.
The Post Office has guaranteed that all independent postmasters will receive 100% of their remuneration in April and 90% in May. The guarantee covers both their fixed and variable remuneration and will be based on their monthly averages for the previous quarter.
The cash will be paid at the end of each month, consistent with the normal schedule. An increase in the rates paid to postmasters, announced last year, will go ahead. The new deal is expected to lead to a 10% increase in the amount of cash the Post Office pays out to postmasters, representing a £37million increase for retailers through 2020/21.
Nick Read, chief executive at the Post Office said: “I’m incredibly proud of our postmasters and branch staff for their dedication to serving customers and keeping the largest retail network in the UK open for business during this difficult time. Every independent postmaster wanting to serve their community during the
“Coronavirus outbreak should not face having to close their Post Office because of concerns over financial support. This remuneration guarantee backs postmasters for their dedication and hard work in keeping their Post Office open and making sure that some of the country’s most vulnerable people can benefit from essential services.
“With over 11,500 branches, the Post Office network is the biggest retail network in the UK, with more branches than all the banks and building societies combined. Most Post Offices are remaining open during the Coronavirus outbreak, although some branches do have to close.”