Apparently it's from an escrow account which is actually a surplus from the old pension plan.
To be fair as long as the pension is fully funded any surplus belongs to the company and is their's to do what they want with but still....
Dave Ward also admitted today that he fears the business is about to pull out of the CDC citing costs and some of this surplus could also be used to try to keep it on track..
Wow so we could end up losing the all singing all dancing new pension scheme they've been working on since they shafted us on the last pension scheme which they opened after shafting us on the one before that?
Great news just keeps coming
Apparently it's from an escrow account which is actually a surplus from the old pension plan.
To be fair as long as the pension is fully funded any surplus belongs to the company and is their's to do what they want with but still....
Dave Ward also admitted today that he fears the business is about to pull out of the CDC citing costs and some of this surplus could also be used to try to keep it on track..
Wow so we could end up losing the all singing all dancing new pension scheme they've been working on since they shafted us on the last pension scheme which they opened after shafting us on the one before that?
Great news just keeps coming
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We had a union meeting yesterday and over £1000 is due to us in the pension scheme, as it is from the pension that closed in 1987 …..It is not included with the pay deal as this money is due to us anyway under current rules regarding old pension schemes
We had a union meeting yesterday and over £1000 is due to us in the pension scheme, as it is from the pension that closed in 1987 …..It is not included with the pay deal as this money is due to us anyway under current rules regarding old pension schemes
If that is true then they would be in effect trying to bribe us with our own money we are due anyway .
The CWU area reps came to my office today,scaremongering at its finest,”vote no & all your jobs at risk” was the crap they were filling people’s heads with
They also mentioned this Ezra lump sum,but never said it was part of an old pension scheme,
I wouldn’t put it past this mob to somehow include it as part of this poxy deal
The CWU area reps came to my office today,scaremongering at its finest,”vote no & all your jobs at risk” was the crap they were filling people’s heads with
They also mentioned this Ezra lump sum,but never said it was part of an old pension scheme,
I wouldn’t put it past this mob to somehow include it as part of this poxy deal
Just when you think they couldn't stoop any lower
We had a union meeting yesterday and over £1000 is due to us in the pension scheme, as it is from the pension that closed in 1987 …..It is not included with the pay deal as this money is due to us anyway under current rules regarding old pension schemes
This makes no sense.....if money was "due to us" why isn't it being paid into the schemes we currently do have so cash balance fund for the majority of current staff?
The ownership of a defined benefit pension surplus in the vast majority of cases lies with the employer just as the liability for any deficit does.
It would depend on what was written into the structure of the pension when it was first constructed but if it did have any instructions the decision would probably lie with the trustees.
Although there's a separate moral argument legally It would more than likely be Royal Mail's money to do with what they wish.
The ownership of a defined benefit pension surplus in the vast majority of cases lies with the employer just as the liability for any deficit does.
It would depend on what was written into the structure of the pension when it was first constructed but if it did have any instructions the decision would probably lie with the trustees.
Although there's a separate moral argument legally It would more than likely be Royal Mail's money to do with what they wish.
Dosnt the Government hold the purse strings to the pre 1987 pension
The ownership of a defined benefit pension surplus in the vast majority of cases lies with the employer just as the liability for any deficit does.
It would depend on what was written into the structure of the pension when it was first constructed but if it did have any instructions the decision would probably lie with the trustees.
Although there's a separate moral argument legally It would more than likely be Royal Mail's money to do with what they wish.
Dosnt the Government hold the purse strings to the pre 1987 pension
Yes they do.
They hold the purse strings to RMs DB pensions up to 2012.
The ownership of a defined benefit pension surplus in the vast majority of cases lies with the employer just as the liability for any deficit does.
It would depend on what was written into the structure of the pension when it was first constructed but if it did have any instructions the decision would probably lie with the trustees.
Although there's a separate moral argument legally It would more than likely be Royal Mail's money to do with what they wish.
Dosnt the Government hold the purse strings to the pre 1987 pension
Yes they do.
They hold the purse strings to RMs DB pensions up to 2012.
The ownership of a defined benefit pension surplus in the vast majority of cases lies with the employer just as the liability for any deficit does.
It would depend on what was written into the structure of the pension when it was first constructed but if it did have any instructions the decision would probably lie with the trustees.
Although there's a separate moral argument legally It would more than likely be Royal Mail's money to do with what they wish.
Dosnt the Government hold the purse strings to the pre 1987 pension
Yes they do.
They hold the purse strings to RMs DB pensions up to 2012.
Thanks Robert so RM wouldn't have access to that?
They haven't got any say in the pre 2012 pensions, they are paid for by the government/taxpayers of the UK. There is no pot of money associated with those benefits.
There is an escrow account with an x amount if money in, which RM do have access to. But using that money as a bribe to get this agreement voted in, seems very short sighted to me.
The CWU area reps came to my office today,scaremongering at its finest,”vote no & all your jobs at risk” was the crap they were filling people’s heads with
What is wrong with that? Your job will be at risk with a no result. How much of a risk remains to be seen, but a no deal is in nobody’s interests.
