Had to laugh

[Howyoudoin]

Received the following email from my employer today:

We understand that we are facing a once in a generation challenge as a result of high inflation. We also understand that the rising cost of living has a more severe impact on our less senior staff. Indeed we recognised this in our annual salary review in June.

We will be making a one off cost of living payment to everyone globally on our internal organisation below Director level in the December payroll (on or around 16 December, so the payment will be with you before Christmas). This payment is to help our less senior staff to offset some of the increased costs of living, particularly energy costs and mortgage rates. Our HR team will contact relevant employees with full details.

Now i'm not one to look a gift horse in the mouth but as I work for an investment firm, I doubt there are many of us 'less senior staff'' that are on the breadline. It's the sort of email that you would hope cleaners, McDonalds workers, nurses etc would receive but I bet they don't.

Anyway, I have no idea what the amount will be but would guess at £1k before tax and I will treat the boy and then give money to my favourite charities.

HYD

[swill453]

Why just a one-off payment? Do they think the cost of living is actually going to go down again?

Scott.

[Howyoudoin]

Why just a one-off payment? Do they think the cost of living is actually going to go down again?

Scott.

I guess they’re hoping that Government intervention will compensate.

Doesn’t detract from my OP suggestion that money goes to money.

HYD

[staffordian]

Why just a one-off payment? Do they think the cost of living is actually going to go down again?

Scott.

The attraction for employers of these one-offs is that it does not become consolidated in the basic pay and therefore become an ongoing liability, and I assume whilst it is taxable and NI-able it does not involve the employer having to make a related pension contribution.

Guess many employers may well do a similar one-off* next year if their finances allow and the current cost of living crisis still applies.

* I suppose it would then become a two-off payment

[Howyoudoin]

"Anyway, I have no idea what the amount will be but would guess at £1k before tax"

I overestimated, it's £750.

Beggars can't be choosers and all that.

HYD