Securing Gov't commitment on Pensions prior to ballot

[goochy]

LTB 195/10 states:

'Previously, the Government has made it clear that a modernisation agreement is the key enabler to them taking appropriate action. Now we have secured an agreement it is essential that we discuss the matter (Pensions Deficit) further with the Government and Royal Mail before confirming a ballot timetable on the agreement..'

My Union rep reckons CWU are going ahead with the ballot without securing any commitment from the Gov't on the Pensions issue.

I want to see something in writing from Mandleson before I put pen to ballot paper!

Otherwise, a definite NO vote from me.

[postie222]

One thing i heard that if Labour do not sort the pensions the Cwu will no longer pay into the party. Maybe a bit late in the day but if they are not in power then may be its a good idea

[belle smith]

One thing i heard that if Labour do not sort the pensions the Cwu will no longer pay into the party. Maybe a bit late in the day but if they are not in power then may be its a good idea

For the coming Genral Election only....and if the pensions issue is resolved before then, we will be providing them with funds for the Genral Election.

[Steviea34]

LTB 195/10 states:

'Previously, the Government has made it clear that a modernisation agreement is the key enabler to them taking appropriate action. Now we have secured an agreement it is essential that we discuss the matter (Pensions Deficit) further with the Government and Royal Mail before confirming a ballot timetable on the agreement..'

My Union rep reckons CWU are going ahead with the ballot without securing any commitment from the Gov't on the Pensions issue.

I want to see something in writing from Mandleson before I put pen to ballot paper!

Otherwise, a definite NO vote from me.

Unfortunately, like how the 1 in 4 Saturdays are to be achieved, performance measures explained, & an agreement around pensions -
ALL THESE EXPLANATIONS HAVE NOT BEEN VERY FORTHCOMING - HAVE THEY

[k979aaa]

One thing i heard that if Labour do not sort the pensions the Cwu will no longer pay into the party. Maybe a bit late in the day but if they are not in power then may be its a good idea

For the coming Genral Election only....and if the pensions issue is resolved before then, we will be providing them with funds for the Genral Election.

Some how it doubt it after all NEW LABOUR just made 11 billion pounds in cuts equal to the so called royal mail pension deficit and do you all seriously think they would give it to us all?. Now we must a recognize that our pensions are GONE and GONE FOREVER it is not just us but everyone's even the public sector will all lose their pensions after the next election whoever gets in so let's not be deceived by any of the main parties and our goal for a fair and just pension!.

[belle smith]

One thing i heard that if Labour do not sort the pensions the Cwu will no longer pay into the party. Maybe a bit late in the day but if they are not in power then may be its a good idea

For the coming Genral Election only....and if the pensions issue is resolved before then, we will be providing them with funds for the Genral Election.

Some how it doubt it after all NEW LABOUR just made 11 billion pounds in cuts equal to the so called royal mail pension deficit and do you all seriously think they would give it to us all?. Now we must a recognize that our pensions are GONE and GONE FOREVER it is not just us but everyone's even the public sector will all lose their pensions after the next election whoever gets in so let's not be deceived by any of the main parties and our goal for a fair and just pension!.

When the CWU talk about resolving the pensions, what they mean is the goverment taking responsability for the deficit. That will happen even if the CWU do nothing.

They certainly don't mean returning to the final salary scheme with 60 retierment age....if thats what your reffering to then yes they are gone.

[k979aaa]

One thing i heard that if Labour do not sort the pensions the Cwu will no longer pay into the party. Maybe a bit late in the day but if they are not in power then may be its a good idea

For the coming Genral Election only....and if the pensions issue is resolved before then, we will be providing them with funds for the Genral Election.

Some how it doubt it after all NEW LABOUR just made 11 billion pounds in cuts equal to the so called royal mail pension deficit and do you all seriously think they would give it to us all?. Now we must a recognize that our pensions are GONE and GONE FOREVER it is not just us but everyone's even the public sector will all lose their pensions after the next election whoever gets in so let's not be deceived by any of the main parties and our goal for a fair and just pension!.

When the CWU talk about resolving the pensions, what they mean is the goverment taking responsability for the deficit. That will happen even if the CWU do nothing.

They certainly don't mean returning to the final salary scheme with 60 retierment age....if thats what your reffering to then yes they are gone.

Lets put it this way all pensions are gone after the next election!.

[belle smith]

Lets put it this way all pensions are gone after the next election!.

Future benifits, which have yet to be accrued will be cut.

Pensions which have already been built up will be safe.

[k979aaa]

Lets put it this way all pensions are gone after the next election!.

Future benifits, which have yet to be accrued will be cut.

Pensions which have already been built up will be safe.

Ah yes protected under the pension legislation to safeguard all pensions yes but make no mistake pensions will all be cut back after the election as well as hundreds of thousands of jobs!. Lets not forget that other employers have axed their whole pension schemes and replaced them with cash in the pot only schemes whatever you think i am i am a realist and we will be sold off and the pension pot will be frozen and we will only get what we paid in!. If we are lucky at that

[headscrewedon]

Hang on a minute.

If say 30,000 people take VR over the 3 years of this deal, won't that reduce the pension deficit somewhat ?
It's not a nice thing to contemplate, but if someone who would otherwise have worked another 20 years for RM takes voluntary redundancy, doesn't that reduce the fund's future liability ? That individual would receive a small lump sum on retirement, and a smaller pension than they would if they stay until age 65, due to fat fewer years in service

[belle smith]

Lets put it this way all pensions are gone after the next election!.

Future benifits, which have yet to be accrued will be cut.

Pensions which have already been built up will be safe.

Ah yes protected under the pension legislation to safeguard all pensions yes but make no mistake pensions will all be cut back after the election as well as hundreds of thousands of jobs!. Lets not forget that other employers have axed their whole pension schemes and replaced them with cash in the pot only schemes whatever you think i am i am a realist and we will be sold off and the pension pot will be frozen and we will only get what we paid in!. If we are lucky at that

No thats wrong k979aaa, even if schemes are frozen you will get back more than you paid in.

[belle smith]

Hang on a minute.

If say 30,000 people take VR over the 3 years of this deal, won't that reduce the pension deficit somewhat ?

No it doesn't! The Deficit is the diffrence between 'accrued benifits' (past service) and assets held by the scheme.

It's not a nice thing to contemplate, but if someone who would otherwise have worked another 20 years for RM takes voluntary redundancy, doesn't that reduce the fund's future liability ? That individual would receive a small lump sum on retirement, and a smaller pension than they would if they stay until age 65, due to fat fewer years in service

It would in the longer term reduce the on going cost of providing the pension (future service). RM will pocket the savings.
in the short term it will in all likely hood increase the deficit as a large part of the VR will be paid via the pension!

[k979aaa]

Lets put it this way all pensions are gone after the next election!.

Future benifits, which have yet to be accrued will be cut.

Pensions which have already been built up will be safe.

Ah yes protected under the pension legislation to safeguard all pensions yes but make no mistake pensions will all be cut back after the election as well as hundreds of thousands of jobs!. Lets not forget that other employers have axed their whole pension schemes and replaced them with cash in the pot only schemes whatever you think i am i am a realist and we will be sold off and the pension pot will be frozen and we will only get what we paid in!. If we are lucky at that

No thats wrong k979aaa, even if schemes are frozen you will get back more than you paid in.

Why do you think i am wrong even the government is broke the taxpayers will not pay so where is the money coming from? While the situation which befalls us all is bleak some have done rather better :cfo and his ex boss :lfo and their paymaster :mfo it is the inequalities in life which hurt more than poverty in its self!.