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ANNOUNCEMENT : ALL OF ROYAL MAIL'S EMPLOYMENT POLICIES (AGREEMENTS) AT A GLANCE (UPDATED 2017)... HERE



4 pillars agreement pension?

07 Aug 2019, 20:36

So there trying to pull the four pillars now bla bla..
But part one was to change the pension scheme etc.
Now there breaking the agreement can the cwu pull the plug on that deal.
All we got realistic out of four pillars work till 67 instead of 65 and new s**t pension scheme that not up and running and 1hour off working week.
All for royalmail to pull four pillars.
A would tell rico and his clowns the pension deal is getting pulled and give them there hour back and stick there 4 pillars,
Then strike till they come up with a new deal in the autumn

4 pillars agreement pension?

07 Aug 2019, 20:39

If royalmail can pull the four pillars we must have clause to pull the pensions part etc

4 pillars agreement pension?

08 Aug 2019, 04:36

The CDC pension is CWU's baby – they want it more than RM do!

If you remember, RM sent us one of those glossy red booklets in early 2018 outlining their plan to replace the DB scheme with an individual DC plan for everyone.

It was over 12 months later that the CDC alternative was negotiated, along with the rest of the 4 Pillars agreement. It's involved far more hassle, expense and time than introducing a DC plan would have done, and the legislation is nowhere near being in place yet.

The aim is that it provides similar benefits to a DB scheme, rather than just a pot of money with options. And in terms of providing a proper pension that gives us an income for life(albeit one that could go down), it's the best we're going to get.

If anyone pulls the CDC pension proposal, it will be RM!

4 pillars agreement pension?

08 Aug 2019, 08:31

I've paid 31 years into my pension, to date.. its protected that isn't it ?

I wont lose that will I... sorry, I'm not clued up with pensions... thank you..

4 pillars agreement pension?

08 Aug 2019, 14:58

roadrunner bill wrote:I've paid 31 years into my pension, to date.. its protected that isn't it ?

I wont lose that will I... sorry, I'm not clued up with pensions... thank you..

Yes it's protected!

Everything up to 31st March 2010 still has an NRA of 60 and everything between 1st April 2010 and 31st March 2018 still has an NRA of 65.

You are presumably currently paying into the DBCBS? So you building up a lump sum to take with your NRA60/NRA65 benefits.

4 pillars agreement pension?

08 Aug 2019, 23:49

I'm sorry I didn't save the article I read a while back. It said that an unnamed shareholder in Royal Mail had told RM they were unhappy with the new pension arrangement. I wouldn't be surprised if it never materialised.

4 pillars agreement pension?

09 Aug 2019, 04:41

I can understand a large shareholder and probably Rico too, being unhappy about the level of employer contributions going into the current arrangements and the proposed CDC scheme – both around the £400 million mark, based on today's workforce numbers.

They would argue that providing an individual DC scheme and paying as low as the legal minimum of 3% rather than 13.6% would reduce costs and increase profits. Which is fairly obvious.

And as Rico wants to ignore large parts of the 4 Pillars agreement, I'd be surprised if he hasn't looked into the pension issue too.

But considering CDC doesn't pass any potential deficit onto the company finances like a DB scheme might – our pensions would get reduced instead.
Then personally I would say there is no grounds for any anyone to say CDC itself would harm the company finances in any way.

Although I would assume the admin costs would be higher than a normal DC scheme.

4 pillars agreement pension?

09 Aug 2019, 04:58

RobertT wrote:
roadrunner bill wrote:I've paid 31 years into my pension, to date.. its protected that isn't it ?

I wont lose that will I... sorry, I'm not clued up with pensions... thank you..

Yes it's protected!

Everything up to 31st March 2010 still has an NRA of 60 and everything between 1st April 2010 and 31st March 2018 still has an NRA of 65.

You are presumably currently paying into the DBCBS? So you building up a lump sum to take with your NRA60/NRA65 benefits.


Thank you for your information...

4 pillars agreement pension?

10 Aug 2019, 05:05

RobertT wrote:I can understand a large shareholder and probably Rico too, being unhappy about the level of employer contributions going into the current arrangements and the proposed CDC scheme – both around the £400 million mark, based on today's workforce numbers.

They would argue that providing an individual DC scheme and paying as low as the legal minimum of 3% rather than 13.6% would reduce costs and increase profits. Which is fairly obvious.

And as Rico wants to ignore large parts of the 4 Pillars agreement, I'd be surprised if he hasn't looked into the pension issue too.

But considering CDC doesn't pass any potential deficit onto the company finances like a DB scheme might – our pensions would get reduced instead.
Then personally I would say there is no grounds for any anyone to say CDC itself would harm the company finances in any way.

Although I would assume the admin costs would be higher than a normal DC scheme.

Why would he bother about admin cost he wants his fill probably off shoring income probably to the cayman islands with lord Ashcroft bank roller of the Conservative party living it up jet skiing just the like the pension scam add but it does not apply to conservative party fund managers/pension scammers! ie our pensions!

4 pillars agreement pension?

10 Aug 2019, 05:31

here is his profile https://en.wikipedia.org/wiki/Michael_Ashcroft not that I am saying he has done anything wrong in legal sense but you have to question morality and his alligence of subjugating the working man/woman and the very fact he bankrolls the conservative party and pays no tax in this country if any tax anywhere in the world why should he pay for election campaigns without paying TAX you pay TAX why should he bankroll the conservatives party NO REPRESENTATION WITHOUT TAXATION!

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