A redispersible polymer powder composition comprising as powder or an aqueous dispersion multilayer polymer particles of (i) from 50 to 90 wt. %, based on total polymer solids, of epoxy resin compositions having a calculated glass transition temperature (calculated Tg) of from 0 to 40° C., and (ii) from 10 to 50 wt. %, based on polymer solids, of an alkali soluble polymer shell around the epoxy resin, which polymer shell is the copolymerized product of from 5 to 40 wt. % of methacrylic acid or its anhydride, based on the total weight of monomers copolymerized to form the polymer shell, and the remainder of one or more ethylenically unsaturated comonomer, and (iv) an additive chosen from a divalent metal ion (M2+) having a pKa of 9.55 or higher and its strong acid (acid pKa<3.5) or organic acid salt having a pH in water of 7.0 or less, wherein the molar ratio of M2+ ions to the carboxyl groups in the alkali soluble resin shell is from 10 to 200 mole %.