CWU Facebook video : Escrow explained-how the 900 pounds lump sum came about

[POSTMAN]

Post

[enskied]

For protection should anything go awry.
The times we are living in.

Do you want to forgo your, our protection?

This is ours, not theirs.

[postslippete]

My immediate thought is why have Royal Mail not put it back into their accounts to reduce their losses if this escrow money is so insignificant??


And I can only think of one answer - they have never touched this money that has been sitting there in escrow because it is there to shore up the pension scheme if it is ever in trouble.

The fact that they are prepared to release these funds suggests that they expect to make big profits in the next few years. Profits that are made from reducing our terms and cons.......

[claystones]

they kept telling us there was no more money in the pot and hey presto as if by magic £250 million appeared the cwu and royal mail are in bed together and its embarrassing they sold us out for 30 pieces of silver but they aint buying me massive no vote

[POSTMAN]

Hi All, quite a few members rightfully asking why managers would get this lump sum. That is completely understandable. And let us be clear - it is exactly the same way that non-members benefit from deals. it leave a bitter taste. But the trust is like with the non-members, the enemy here was the law. As managers have paid into the pension scheme we couldn't stop them getting paid out - by law. We tried! - so we were left with a choice - get it for everyone or let royal mail keep the money for themselves. Although not the perfect scenario we felt it was better for you to have £900+ than the company! Hope that explains it.

[claretandblue]

What about people who haven't paid into the scheme, why should they share it ?

[cobrakai]

Managers get the £900 too? Wtf surely if that’s the case we should get their upcoming revision bonus as well.

[Woody Guthrie]

What about people who haven't paid into the scheme, why should they share it ?

It's got nothing to do with contributions.
Royal Mail put the money in the escrow account.

[claretandblue]

What about people who haven't paid into the scheme, why should they share it ?

It's got nothing to do with contributions.
Royal Mail put the money in the escrow account.

I didn't say it did.

[zz666]

If management are getting it, then it's not part of the agreement.