Royal Mail set to close its final-salary pensions

Post by **TrueBlueTerrier** » 24 Sep 2007, 13:19

Royal Mail set to close its final-salary pensions to all employees

http://business.timesonline.co.uk/tol/b ... 518238.ece

Christine Buckley, Industrial Editor

Royal Mail plans to close its final-salary pension scheme to all employees in a move that could plunge the business further into industrial turmoil.

The decision is expected to trigger strikes by thousands of postal managers, in addition to unrest among its 130,000 employees who are in dispute over pay and working arrangements.

Royal Mail is expected to write to employees soon to outline sweeping changes to the pension scheme, including raising the retirement age by five years.

Its move to close the final-salary scheme for existing employees, along with new ones, is almost unprecedented. Rentokil is one of the few other large organisations to take such drastic action. Usually companies that change pension schemes pull down the shutters on final-salary arrangements to new employees only.

The move to end the scheme comes days after Royal Mail denied that it had any such plans. Nevertheless, the proposals are believed to have been outlined to senior managers two weeks ago. The organisation will begin a two-month consultation on the plan soon.

In another controversial move, Royal Mail is to propose â€œbankingâ€

Post by **dvbuk55** » 24 Sep 2007, 14:40

There's "our people" again - and as for not wanting to comment prior to telling us - somebody has obviously commented.

frankie · Post by **frankie** » 24 Sep 2007, 14:51

Post by **Crackerjackpencil** » 24 Sep 2007, 14:58

Noooo this can't be true, after all we've just had notices put up on the notice baords stating the CWU are exaggerating it all and they're having a month long comsultation in October and of course that must be true....Hopefully members will see the management as the lying gits they are.

IWW Fellow Worker · Post by **IWW Fellow Worker** » 24 Sep 2007, 15:06

dvbuk55 wrote:There's "our people" again - and as for not wanting to comment prior to telling us - somebody has obviously commented.

Someone should tell those bastards about that. He's talking like a 18th century Alabama slave owner, which is no surprise as they were all workshy scum living off the labour of others too.

max_gain · Post by **max_gain** » 24 Sep 2007, 15:13

Just goes to show.

CANT BELIEVE ANYTHING ROYAL MAIL TELL US

strangler · Post by **strangler** » 24 Sep 2007, 16:23

[quote="TrueBlueTerrier"]Royal Mail set to close its final-salary pensions to all employees

The organisation will begin a two-month consultation on the plan soon.

â€œWe call upon Royal Mail to honour their commitment to preserve the past service benefits that have been built up and paid for by our members. We also call upon Adam Crozier [the chief executive] to honour his commitment given in February to safeguard final-salary schemes going forward. Failure by Royal Mail to respond positively will leave Unite with no option other than to ballot its members for strike action.â€

Post by **TrueBlueTerrier** » 24 Sep 2007, 16:26

[quote="strangler"][quote="TrueBlueTerrier"]Royal Mail set to close its final-salary pensions to all employees

The organisation will begin a two-month consultation on the plan soon.

â€œWe call upon Royal Mail to honour their commitment to preserve the past service benefits that have been built up and paid for by our members. We also call upon Adam Crozier [the chief executive] to honour his commitment given in February to safeguard final-salary schemes going forward. Failure by Royal Mail to respond positively will leave Unite with no option other than to ballot its members for strike action.â€

Post by **POSTMAN** » 24 Sep 2007, 18:13

Can someone explain to me exactly what this means,in plain English.
IF this is true,what happens to what we've payed in and also the AVC'S.

Post by **Carnoustie** » 24 Sep 2007, 18:25

POSTMAN wrote:Can someone explain to me exactly what this means,in plain English.

we're all f*cked

jafferpants · Post by **jafferpants** » 24 Sep 2007, 18:48

"We call upon Royal Mail to honour their commitment to preserve the past service benefits that have been built up and paid for by our members. We also call upon Adam Crozier [the chief executive] to honour his commitment given in February to safeguard final-salary schemes going forward. Failure by Royal Mail to respond positively will leave Unite with no option other than to ballot its members for strike action.â€

strangler · Post by **strangler** » 24 Sep 2007, 19:00

[quote="jafferpants"]"We call upon Royal Mail to honour their commitment to preserve the past service benefits that have been built up and paid for by our members. We also call upon Adam Crozier [the chief executive] to honour his commitment given in February to safeguard final-salary schemes going forward. Failure by Royal Mail to respond positively will leave Unite with no option other than to ballot its members for strike action.â€

Post by **Carnoustie** » 24 Sep 2007, 19:14

strangler wrote: Ah, I see, it all becomes clear now...

.... that the expression 'it's all gone tits up' was first deployed when a company 'went bust' ???

ROYALMAILCHAT

Royal Mail set to close its final-salary pensions

Royal Mail set to close its final-salary pensions

Re: Royal Mail set to close its final-salary pensions

Re: Royal Mail set to close its final-salary pensions