Royal Mail Posts A £300 Million Pension Deficit

[heapsy]

It's another Maxwellesque scam, that's what it is.

[Glenno]

Is it any wonder the members are rightly confused over the new proposal - When is a final salary not a final salary ?
Have also come across this document, in answer to your Q, when RM go into consultation
heapsy, stop scaring me

[nataddick]

Another link to a Royal Mail document about the change from final salary to career average :-

http://www.royalmailgroup.com/sites/def ... 050308.pdf" onclick="window.open(this.href);return false;

An extract from Section 1 - The Company's decision - I have highlighted the reference to Final Salary !

What will not change?
• You will not have to work until 65 – you can still retire at 60 if you want to
• At age 60, you can still take benefits built up before 1 April 2010 unreduced. And you can
also earn more pension after age 60 if you choose
• Benefits built up before 1 April 2008 will continue to be calculated on a Final Salary basis
as they are now
• The cost to you of being a member of the Pension Plan is not going up
• People already receiving a pension and deferred pensioners are not affected.