The Poll!

[daveyeff]

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[daveyeff]

they've stated RM are going to pay 13% and we pay 6% towards our pensions so that we will get a decent ''pension''

You aren't even guaranteed that.
If the fund performs poorly while you're employed you may be asked to pay more than 6%, if it performs poorly while you're a pensioner you may get back less in real terms than you've paid in. That's what shared risk means.

they checked it over the last 21 yrs and it performed as they hoped it would. above their expectations.

[daveyeff]

none of us on here are pensions experts and the way the Union fought against RM for trying to bring in their pension plans tells me I can trust what the Union are selling us. I honestly don't think they would sell us a dummy on something as important as this.

[daveyeff]

i'd be more suspicious of CDC schemes if they hadn't been tried and tested in Canada and Holland. or if they weren't backed by the TUC or our own union, the CBI and all political parties.

[yellowbelly]

....this one pays 1/80th................

No - that's it's 'target'. Plus with the SWW won't the amount of employee and employer contributions that are going into the pension reduce because
you are working fewer pensionable hours - ultimately saving RM money and less money being invested in the pension?

[BELIAL]

i'd be more suspicious of CDC schemes if they hadn't been tried and tested in Canada and Holland. or if they weren't backed by the TUC or our own union, the CBI and all political parties.

I think you might need to check what has happened in Holland ,you might reassess your conclusions .

[dids620]

In my late 40's and workload is taking its toll on my body (bad back,feet etc). Address workload and B&H first. I would rather have a long and healthy retirement than money. Fast forward 30 years to my pension age. I'm really gonna enjoy the pension that may or may not materialize dependent on government and "risks". Previous post referring to what the nurses are getting. Stop looking at those worse off than you. Nurses have their own union to fight their battles. Don't justify this joke of an agreement by saying its better than what was offered at the beginning. RM were obviously not gonna get what they proposed. Simples.

[fishtank]

the way the Union fought against RM for trying to bring in their pension plans tells me I can trust what the Union are selling us.

Ok let's look at the fight from royal mail's point of view.

Before the fight/mediation they were offering 15.6% + your 6% into a DBCBS scheme, these contributions would have to be guaranteed so any deficit caused by poor investment in the fund would have to be made good by the employer.

After the fight they are offering 10% into a DC ambition scheme, only the 3.6% going into the DBLSS is guaranteed, the rest of the contributions including your 6% are not guaranteed so any deficit caused by poor investment in the fund or a reduction in contributing members or increased life expectancy of retirees will have to be absorbed by the members of the scheme.

Remind me who won the fight?

[dinosam]

In my late 40's and workload is taking its toll on my body (bad back,feet etc). Address workload and B&H first. I would rather have a long and healthy retirement than money. Fast forward 30 years to my pension age. I'm really gonna enjoy the pension that may or may not materialize dependent on government and "risks". Previous post referring to what the nurses are getting. Stop looking at those worse off than you. Nurses have their own union to fight their battles. Don't justify this joke of an agreement by saying its better than what was offered at the beginning. RM were obviously not gonna get what they proposed. Simples.

Unfortunately not many will see past pay rise instead of RM smashing our pension with our unions backing and getting us working to 67 seriously considering saving my weekly £3.56 towards my pension.

[hans solo]

just voted no

[clashcityrocker]

Why would anyone vote for a pig in a poke pension?
And a piss poor wage rise?
And untold trials and forums, and some wishy washy words about office culture?

The whole deal is terrible.
I voted no.

[daveyeff]

the way the Union fought against RM for trying to bring in their pension plans tells me I can trust what the Union are selling us.

Ok let's look at the fight from royal mail's point of view.

Before the fight/mediation they were offering 15.6% + your 6% into a DBCBS scheme, these contributions would have to be guaranteed so any deficit caused by poor investment in the fund would have to be made good by the employer.

After the fight they are offering 10% into a DC ambition scheme, only the 3.6% going into the DBLSS is guaranteed, the rest of the contributions including your 6% are not guaranteed so any deficit caused by poor investment in the fund or a reduction in contributing members or increased life expectancy of retirees will have to be absorbed by the members of the scheme.

Remind me who won the fight?

well as I said before. they back traced the performance into this type of scheme and it out performed all their expectations for over 21 years, which would suggest its a pretty sound scheme.

[k979aaa]

Unions are not about how we got this great deal for you it is about how we all get a good deal for all top down nonsense is a product of a capitalist society we need unity and without a good agreement we will not have that or a good deal as it stands it is not the deal worthy of our aspirations!

[daveyeff]

how many voted for the biggest pile of shite in history that was the 2010 deal of the century?. this one is better that's why I voted yes.

[k979aaa]

how many voted for the biggest pile of shite in history that was the 2010 deal of the century?. this one is better that's why I voted yes.

I did not and will not for this one. It needs a better agreement on the overrunning procedure and better industrial relations in terms of grievance procedures IE weed out the tossers!