The source of the potential extra lump sum and the CDC pension. ..

[postslippete]

Dave and Andy both mentioned that they were still working to increase the pay award behind the scenes when the agreement was originally announced.

I'm not sure how you win as a union, would we rather they hadn't bothered?

We 'win' by bending over to RM. You then have to try and sell it to the members who you have previously balloted and received a strike mandate of 97% that it's the best we can do given the dire financial situation of Royal Mail who ironically have now found a bit loose change down the back of the sofa to pay off one of the Proclaimers who isn't walking 500 miles and make the deal more palatable to posties.

[FirstPost]

£35 before tax

Backdated £35 a week before tax?

[daveyeff]

i make it £29.65 on my wages....thats £467.20 basic and £27.13 delivery supplement...gives £494.33 top line flat week at 6%= £29.65. so the thick end of a 30 quid rise back dated to April !st. by the time the ballot closes on 14th June and if its a yes(which it probably will be) by the time its paid would probs be the end of June so be 385 quid back dated plus 500 quid and if it its true about the extra grand then thats almost 2 grand lumper. plus your pay for that week, so could be over 2 grand.but i am not counting : .. the taxman WIll be pleased. oh and the national insurance to boot. top of me heed, about 14-1500 to lift.

[daveyeff]

but they've got no money.

[Wullie10]

Don't understand all this £1000 from a pension fund. You won't get a penny of that unless you're 55. The pension is incredibly difficult to understand as it is without this

[heapsy]

Anybody remember Robert Maxwell?

He took a one-way "swim" from his Yacht and after his death, huge discrepancies in his companies' finances were revealed, including his fraudulent misappropriation of the Mirror Group pension fund.

My dad was one of his victims. Worked on the Daily Mirror in Manchester. Lost everything.

[k979aaa]

More bloody pension scammers and that is ROYAL MAIL we had a good pension once now we have three or four or one dependent on service while a fat cat has screwed us all. And cannot face the music and s**t his nest and fly on to another victim these people should be held by account by NEW laws that they are not fit and proper people to run a raffle than a billion pound service! This alone is a damning indictment of the governance of this nation that people like that can do this and no one gives a s**t!

[heapsy]

More bloody pension scammers and that is ROYAL MAIL we had a good pension once now we have three or four or one dependent on service while a fat cat has screwed us all. And cannot face the music and s**t his nest and fly on to another victim these people should be held by account by NEW laws that they are not fit and proper people to run a raffle than a billion pound service! This alone is a damning indictment of the governance of this nation that people like that can do this and no one gives a s**t!

You're right, but it wont happen. The plan is to make us work until we drop. And before anyone says it is the Tories that are to blame, Labour are at it too. The whole country is being shafted because "we can't afford it"

[renrag40]

So, there may be a pension surplus of £2 billion ....... and £75 million to £150 million may be used to try and influence the vote of a pay ballot....... hmmmm....
what about people who contributed to the pension scheme and have already taken their nra65 entitlement and retired....... Will they receive the same money?
Will people who have contributed to that pension scheme but have left the company and their pension is deferred will they receive the same payment?
Will people who never contributed to that pension scheme, for example people who contribute to the RMDCS, receive the same money?
By using a pension surplus for anything other paying and protecting the benefits of the pension scheme members is an absolute disgrace and should not be allowed to happen.
The company can have the surplus when there are no longer any more liabilities to pay out for that pension scheme and not before.

[k979aaa]

More bloody pension scammers and that is ROYAL MAIL we had a good pension once now we have three or four or one dependent on service while a fat cat has screwed us all. And cannot face the music and s**t his nest and fly on to another victim these people should be held by account by NEW laws that they are not fit and proper people to run a raffle than a billion pound service! This alone is a damning indictment of the governance of this nation that people like that can do this and no one gives a s**t!

You're right, but it wont happen. The plan is to make us work until we drop. And before anyone says it is the Tories that are to blame, Labour are at it too. The whole country is being shafted because "we can't afford it"

Well have to agree the problem is the party system in the uk Ie three or four parties dominate the political landscape and they are all singing from the same hymn sheet of hypocrisy!

[TopperGas]

So, there may be a pension surplus of £2 billion ....... and £75 million to £150 million may be used to try and influence the vote of a pay ballot....... hmmmm....
what about people who contributed to the pension scheme and have already taken their nra65 entitlement and retired....... Will they receive the same money?
Will people who have contributed to that pension scheme but have left the company and their pension is deferred will they receive the same payment?
Will people who never contributed to that pension scheme, for example people who contribute to the RMDCS, receive the same money?
By using a pension surplus for anything other paying and protecting the benefits of the pension scheme members is an absolute disgrace and should not be allowed to happen.
The company can have the surplus when there are no longer any more liabilities to pay out for that pension scheme and not before.

It's a surplus unless the fund rules state otherwise it's down to RM to decide that they do with it, they could even return it to themselves.