The £ 900 bung

[hans solo]

RM and CWU are walking into a legal minefield

[Jinder]

It’s a yes from me,we have a deal we need to say yes,a no vote and the business is gone

So be it

[guardianangel]

It’s a yes from me,we have a deal we need to say yes,a no vote and the business is gone

Wrong,supposition.

[guardianangel]

It's a yes vote for me ,it's a shite deal but the alternative is bleak

Already fallen for the lies and deceit,i'll be voting NO and i'll take my chances,i couldn't look myself in the mirror knowing im giving away our t's and c's for generations to come.

[guardianangel]

The union needs to be looked at.
We should crowd fund a solicitor to look at what's going on.
History is not going to be kind to this union as it is operating just now.
Voting no.
I was swaying towards yes but think hard- none of this can possibly be right.

Exactly my thought ,we need an independent review into this lot and whats gone on,something is not right.

[clashcityrocker]

The union needs to be looked at.
We should crowd fund a solicitor to look at what's going on.

Why do we need to crowd fund a solicitor?
There are a number of people on here with the necessary legal qualifications to do the work.

Once they have finished suing RM for breach of contract and sex discrimination and suing the union for substandard representation I am sure they will look into anything else you feel warrants their attention.

[hazzeem025]

May not be legal
Currently being looked at by pension regulators
Can payment from pension escrow account be used as an incentive and inducement payment to form part of an agreement for some
While paying out same incentives to persons not involved with agreements
Or even worse to persons not even in pension or have ever paid into account
May or may not get your bung in September after all
Watch how you vote

Can we have some proof of what you're saying?

[mags999]

This doesn't sit right at all what about people who have recently left the business and have paid into pension for years its there monies as well its got to be illegal what kind of union have we got here allowing money that former members have put in to be used as a sort of bribe

[Kirkz]

As I understood it, it was money RM put aside in case of difficulty in the pension fund so was the firms money not money people paid in.
Happy to be proved wrong though.

[LouBarlow]

May not be legal
Currently being looked at by pension regulators
Can payment from pension escrow account be used as an incentive and inducement payment to form part of an agreement for some
While paying out same incentives to persons not involved with agreements
Or even worse to persons not even in pension or have ever paid into account
May or may not get your bung in September after all
Watch how you vote

Source?

Sounds like something you have made up to try and sway votes.

[Woody Guthrie]

It's not money from the pension.
How many times does this need explained?
Oh wait there are still people who think we get paid for D2D so the answer is probably at least for the next 15 years.

Not pension money.
Nothing to do with contributions.
Royal Mail's money.
Probably would have been spent on something completely useless at some point in the future like electric unicycles or a vest to fit your D2D into or some wacko Japanese continous improvement program.

Genuinely I would rather some of it went to members even if managers get it than see it spaffed up the wall on some uni grad's next great idea.

[stevejm]

It’s a yes from me,we have a deal we need to say yes,a no vote and the business is gone

no it's not - total ballshite - hang your head in shame for being so mis-informed

[derricksmyth]

Fed up with all the Bull, it's a big NO from me!!

[postslippete]

It's not money from the pension.
How many times does this need explained?
Oh wait there are still people who think we get paid for D2D so the answer is probably at least for the next 15 years.

Not pension money.
Nothing to do with contributions.
Royal Mail's money.
Probably would have been spent on something completely useless at some point in the future like electric unicycles or a vest to fit your D2D into or some wacko Japanese continous improvement program.

Genuinely I would rather some of it went to members even if managers get it than see it spaffed up the wall on some uni grad's next great idea.

This money has actually derived from our pensions contributions but is held separate to the Pension Plan in an escrow to shore up the pension scheme if it was ever in trouble. That money won't now be there if there are any future emergencies. And these could be emergencies that are totally unrelated to the company's performance. Do you remember chancellor Kwasi Kwarteng's mini budget last year that sent the market tanking? Well, IDS was reported to have rushed forward its payment into the pension scheme to help prevent a cash crunch.

Pension fund trustees were probably very unwilling to release this escrow money (valued at £196 million in March 2023) unless they fully expect Royal Mail to be profitable in the next two years on the back of profits made via this deal. Trustees always monitor the resilience of their investments, have good solid risk management practices and will have funding arrangements in place so it wouldn't surprise me that this money will need to be paid back sometime particularly as the Royal Mail pension scheme covers 124,000 members with liabilities of around £11 billion.

What they are definitely not going to allow Royal Mail to use this money on is electric unicycles or to be spaffed up the wall!!

[Shadedpostie]

I've not heard a single thing about it getting looked at bar the OP saying so where is the source of this information?