The new threat to our pensions

[MadMac64]

This really will be the last straw!
How much more of this can we take?
A pay cut,the distruction of our terms and conditions(with a total disregard to the union),and now it looks like they want screw us out of our pensions.
I'll lay odds that they wont change their own pension deal.
Any takers on that bet?
Didn't think so!
It really is getting me very down,in the 22 years in the job I can honestly say "I have never felt more fearful and angry about my future in Royal Mail !!!" :lfo :cfo

[NWpostie]

I have seen a lot of changes in 20 years, its not the same job I was in when I started, its more like a Prison and a Victorian Workhouse, where I am and I would imagine going off many comments on this site, its pretty much the same, I think most of the staff are now numbed and gone past breaking point and their pain threshold has jus been raised higher.

it is quite depressing, I am wondering when is the right time to take VR, not many jobs give me 6 weeks off a year and Final Salary Pension if they take both away, thats my threshold gone.

[MadMac64]

You hit nail on the head ,without the pension what is the point of staying in the job?
They seem to think that we will accept anything that do.
We can only be pushed so far, but they are hopeing that fear will immobilise us !
Not this time !
The line has to be layed down!
They can not be allowed to intimidate and bully us into submission!!!
We must win at all costs,or we have no future .
God help us all.....and I'm an agnostic!!!!!!

[mailjock]

As far as I can tell the current proposals to slash pensions and delay payment of them is to take a sticking plaster to the current 4-6 Billion £ blackhole in the scheme.

But if they get rid of another 40,000 employees as planned through modernisation over the next few years there is going to be another attack on the pension scheme because there will be 40,000 less contributors and the amount of pensioners will either probably be about the same or possibly higher if people flock out the door to escape having to work another 5 years or if there is any widespread VR.

So I think the pension fund situation looks very bleak and that's why I think the move is to let it collapse or by privatising the company and drastically reducing the pension benefits to let New Labour off-the-hook as they will be trying like hell not to be forced into plugging the blackhole.

Just my thoughts and OK maybe a little paranoia but I can't see how the scheme can survive as anything more than a palke shadow of its current position despite benefits being reduced for new starts over the last few years.