Opposite you'll find a copy of the final matrix (which is the result of lengthy consultation) and a side letter which provides some additional clarification on a number of key areas.

While the transfer date has now moved to August 1, we remain under a lot of pressure regarding the timetable, as Barclays needs to start processing information and formalising HR information in readiness for the transfer date. Therefore, members need to read and understand this information as a matter of urgency.

Conference call for members:
We are planning to hold another conference call of the union's members on Thursday June 24th (this week) at 12pm and urge everyone in scope to attend. Please confirm your attendance with Sarah Powell (via [email protected])

During this call we'll talk through the details of the matrix and the offer, and explain what's going to happen next.

In the letter attached to this e-mail, you'll see Barclays have written to the union providing some assurances on how redeployment would be managed, and have provided an updated and final matrix. As discussed with members previously, we only have details from Barclays at this stage but expect that Cable and Wireless will match much of the Barclays matrix. Therefore, the Cable and Wireless in scope population should join the conference call on Thursday too.

Individual Choice
We have agreed with Barclays that they will present the in-scope population with a choice between the negotiated matrix, or transferring with the terms of their existing contract of employment on a static basis. We will discuss in detail the implications of this choice on Thursday. The union has had regular contact with members throughout this process and we've had a clear mandate from members about areas of priority. This is reflected in the final matrix. However, we felt it was important that the final decision rests with individuals themselves. So, we'll provide you with all the information we can but the final decision on which set of terms you transfer across with, rests with you.

Voluntary Redundancy
Members gave the union a clear mandate to seek to match the Barclays terms for those with longer service, or provide access to the BT one month per year up to a maximum of 12 months terms. This has been achieved in the final matrix and colleagues will be able to choose whether they go on Barclays or BT Terms, (whichever is most beneficial to them) should their VR application be agreed. This is captured in the matrix, as part of the agreement between Barclays and Prospect. Remember that exit dates need to be agreed on an individual basis, depending on operational requirements.

Compulsory Redundancy
We've discussed in detail that Barclays will not recognise the BT Compulsory Redundancy Terms (which are captured in the policy document K020). It is therefore the case that members accepting the Barclays final offer that has been negotiated with Prospect effectively accept that these terms are no longer part of your contract.

This is an issue you need to consider carefully as the terms provide enhanced pension provision for those who are 50 or over and are selected for compulsory redundancy. This has become a major sticking point in the negotiations but Barclays have been very clear that they will not make any individual compulsory redundant on the K020 terms. This would mean therefore, that a legal challenge will be the most likely way for a member to assert that these terms make up part of their contract. Following consultation with members therefore, the Prospect team decided the needs of members are best met by focussing on the better VR offer, the 6% contribution for pensions this year, and the various buy-outs you can see in the matrix.

Taking that in the round, the union reached the agreement before you, which certainly constitutes the best achievable by negotiation. The final decision on which Ts and Cs to transfer on will be yours. Prospect will not do it for you. If you want to assert that the BT Compulsory redundancy terms continue to apply, you don't have to accept the final matrix, you can opt to transfer with your existing contractual terms and conditions. Alternatively, if you wish to enjoy the benefits shown on the Barclays matrix, you can opt to transfer onto the negotiated matrix.

Individuals need to make this decision by close of play on Monday 28th June 2010.

Barclays have asked that members fax a signed and dated letter or e-mail initially, then special delivery a signed and dated letter, confirmation of their decision (indicating whether you wish to transfer on your existing terms or the negotiated matrix) to Debbie Worthington via fax number 01565 613648 or e-mail [email protected]. Letters should be posted to Debbie Worthington, Exec Suite, Ground Floor Block 8, Radbroke Hall, Knutsford, Cheshire WA16 9EU. You can copy Sarah Ward into this exchange if you wish.

If any members have any concerns about this, or want to discuss what this means, please contact us and we're happy to talk discuss it further. We intend this to be the main subject of Thursday's conference call with members.

Next Steps
Now that the consultation on terms has concluded, Barclays are going to be pulling together a timetable to enable everyone to understand what happens from here. This will include further one to ones, and a pensions meeting (possibly a live meeting) to talk people through the pensions provision arrangements.

As always, feel free to contact us at any time and we'll do our best to respond.

Your Prospect Team is:
Sarah Ward (National Officer) via Sarah Powell (PA) on [email protected] or 020 8971 6039

Ian Varnes - [email protected]
Paul Crosby - [email protected]