So the union were right, you did have a proposal regarding our pension.
Is this the same pension you said at the point of transfer was "fully funded" at the point of transfer.
It is interesting to note that the "problem" has come about just a few months prior to a possible change of ownership.
As members of the scheme we have been hit with a twin pronged attack of the company wanting to ensure transfer of ownership to the private sector and the government buying gilts through quantitative easing bringing down the returns for pension funds.
So you now want to "address the problem" and assure us this is "legally binding" and will address the issue for the future?
Is this the same assurance that you gave us at the point of transfer?
The assurance that has lasted all of five years.
This proposal appears to have been watered down from the original proposal that I was told was discussed by the company and the union, in that proposals would have a 5 year protection for Royal Mail employees.
You appear to have jumped on the "Post office" band wagon and even removed that in line with "Post office" proposals.
How can I or any other members of the scheme plan for retirement?
You and the government change the goal posts several times in a decade.
I suggest the reason you broke off talks prior to conference was that you did not want the CWU leadership to discuss the issue at the conference.
I would also suggest that your reasoning has very little to do with your concern for the members and as I said very much to do with the current and future projections of balance sheets prior to a change of ownership.
Much the same reasoning can be brought to bear re our 2013/14 pay negotiations.
I would not be surprised if these dragged on till Oct and you then, as in the past, failed to include back dated pay.
I am sure that yourself and other members of the Royal Mail executive will still retain you gold plated pensions and benefits.
I have worked for Royal Mail since 1977 and had been forced since I was 18 to pay into the Royal Mail pension scheme.
As you know the CWU is currently consulting with it's members and these proposals, will I am sure swing a positive vote for the union's position.
With the letter "Our Pension Plan; The company wants to safeguard your pension", which would be so laughable if not so serious for it's members, you have shown the board to be what they are.
A group of self serving individuals that will stoop to any depths to have a healthy balance sheet so the government can push ahead with it's plan to float Royal Mail.
In my house I also have colleague shares that are worth about as much as your promises on pensions.
It is also interesting to note that the cost of the proposed 10% of our shares appears to be almost the same as the £2 billion you want to use from our pension funds.
Talk about robbing Peter to pay Paul.
Why don't you give up on the idea of 10% of shares and invest this money in pensions?
It is also worth bringing to your attention, that none of these issues would have come about if the company had not taken an 16 year pension holiday. A time which saw the government received huge dividends from Royal Mail.
I for one will be voting for industrial action.
The company and the government have shown themselves for what they are, underhanded and willing to do any thing to achieve the ideological position you both crave, a change of ownership.
There is no one you will not disadvantage to achieve your aims, whilst protecting the boards gold plated pensions and benefits.
