The 30th is nearly here!

[jessicarabbit]

No news is good news......

[Playmail]

Def isn't they could be steam rolling ahead without the backing of the union

[Hyrrokkin]

What I think many of want to know is what’s happening to the pension surplus,nobody seems to know anything?……apparently it’s over 1.5billion now.

The trustees should divide at least half of up amongst members past and present

Do you mean including employees who were never in the old RMPP DB scheme ?

Why should workers who never paid into the scheme get anything !- it is not THEIR pension scheme...complete rubbish.

Obviously the ones that were in scheme including those that have left company.

Anyone have clue what’s going on with this?

My mistake my apologies

[Hyrrokkin]

How will the surplus be divided up,surely DK can’t get his hands on this,we definitely need more clarity here

Do not want to derail this thread with pension surplus - but i am anyway !

As RobertT said it is all up in the air until next year (at the earliest) by the looks of it.

I notice that the CWU have already positioned themselves as having a say on how it is divided up/payed out...so they want to get their grubby hands on this as well as RM who are desperate to get their hands on the surplus as well.

[Valentina@1]

I was under impression it’s the trustees that decide….anyway where’s this announcement?

[TheTrolleyMan]

CWU have agreed the deployment of ODM in exchange for for a one off payment of £2 per person !

[Hyrrokkin]

I was under impression it’s the trustees that decide….anyway where’s this announcement?

The trustees decide but CWU have positioned themselves as the ones who handle the payout (our half if it goes that way...although i believe we should get all of it) if legislation goes through and trustees agree to change it.

[TheTrolleyMan]

All previous RM pension funds / surpluses have nothing to do with the CWU

[RobertT]

Ultimately it's up to the trustees to decide what happens to the RMPP surplus.

But this is the agreement made between EP and CWU, presumably based on the trustee agreeing:
(not sure if there's a longer version?)

There has been a real fear that EP Group would, at some point, look to access the pension surplus that exists to pay out to shareholder(s). We have addressed this concern.
EP has agreed not to access the pension surplus and instead it has been agreed to split this between investment into Royal Mail and for the benefit of employees, with agreed funds to be distributed into the Employee Collective Benefit Trust. This is not likely to happen in the short term, but we have the security we need in place.

https://www.cwu.org/rebuilding-royal-ma ... -ep-group/

The CWU have a habit of making bold statements about watertight agreements, only for RM to run roughshod over them a few months or years later.
So it's probably as good a chocolate teapot anyway.

If/when the time comes, hopefully the RMPP trustees will think of their members first.

[hans solo]

CWU have agreed the deployment of ODM in exchange for for a one off payment of £2 per person !

[Valentina@1]

Waiting for april fools day?

[Acca Dacca]

CWU have agreed the deployment of ODM in exchange for for a one off payment of £2 per person !

*pro-rata

[Rommagic]

31st now.

[Acca Dacca]

A bit of a disgrace there was no update from either side given people’s jobs have been threatened and they are still none the wiser what’s happening

Given the CWU are still posting anti Kretinsky videos on Facebook today I’m going to assume there’s nothing positive forthcoming soon

[Valentina@1]

Yeah,disgusting ….keeping everyone hanging