CWU strike ballot to win 'Four Pillars'

[Phantom]

UrbanPirate - why do you believe is should not be fought for??? Why do you believe millionaires who say there is no money? Why not ask Royal Mail for more details on how they want to shape the job because all the propaganda that's come through the door has told you f**k all.

[UrbanPirate]

UrbanPirate - why do you believe is should not be fought for??? Why do you believe millionaires who say there is no money? Why not ask Royal Mail for more details on how they want to shape the job because all the propaganda that's come through the door has told you f**k all.

Not the thread for it mate. Go on to the other one and have a read of that. There you will read what I think.

[chrisj]

UrbanPirate - why do you believe is should not be fought for??? Why do you believe millionaires who say there is no money? Why not ask Royal Mail for more details on how they want to shape the job because all the propaganda that's come through the door has told you f**k all.

Nothing to do with millionaires or shareholders but cold hard reality of economics. I am Labour supporter and a democratic socialist but socialism without realism is always a recipe for disaster; even Mr Corbyn is beginning to change some of his thinking.

Politics of envy gets us nowhere! And we are all shareholders - not just with RM but those lovely pensions are invested in companies that give dividends - the money is not just put in the bank!

[jetblack]

.. those lovely pensions are invested in companies that give dividends - the money is not just put in the bank!

Actually no - the pension scheme is mostly invested in government gilts. That is, our money is being used to lend to the government. Thats part the reason the fund is performing so abysmally. The government is desperate to borrow to cope with the crash caused by the irresponsible business practices of the banks/city. Ergo, our money is being used to bail out the bankers - and thats the reason I'm looking at a retirement several K a year worse off. Cold hard economics !!

[chrisj]

Come off it! They just invest in gilts - I doubt they will put all their eggs in one basket.

Moreover, why don't you move to the DC and then invest how you like (some options with Zurich) or simply go for a private pension if you know so.much about investments.

The truth is the returns are no so great for many portfolios and I do not think any organisation is being coerced into doing the government a favour through lending at a low rate - the rates are low anyway.

It is not about millionaires but about your future.

[TrueBlueTerrier]

Handy hit - BBCode needs to ON for the Quote feature to work.

[UrbanPirate]

Handy hit - BBCode needs to ON for the Quote feature to work.

Huh, what went on there then. Hopefuly iv fixed it...

[jetblack]

Come off it! They just invest in gilts - I doubt they will put all their eggs in one basket.

Of course they don't purely invest in gilts - I never said that. Have a read of this :- https://www.royalmailchat.co.uk/communi ... 27&t=79846" onclick="window.open(this.href);return false;

edit. interesting article here:- https://ig.ft.com/sites/pensions-intere ... explainer/" onclick="window.open(this.href);return false;

if you read down the comments of that article you will find this post, which for me just about hits the nail on the head :-
'Solon25
Aug 24, 2016

I am chairman of the trustees of a defined benefit pension plan, which is invested almost 100% in bond type instruments. My own pension entitlement is of the defined contribution variety and I am invested almost 100% in equities, despite the fact that I am now past retirement age. Both arrangements have fundamentally the same objective - to generate an adequate income for beneficiaries in retirement - but they have almost diametrically opposite investment strategies. Why? The reason for the difference is down to regulation: the defined benefit plan has to demonstrate to the regulator every year that its assets are sufficient to meet accrued liabilities. The sponsoring company has to make similar demonstrations in its financial statements. Those constraints force DB pension arrangements to invest in assets that are completely unsuited to the long-term nature of the liabilities. I don’t have any such constraints with my DC arrangement. There is no way that I could bring myself to invest in an asset that is guaranteed to yield less than 2% per annum if I hold it for the next 20 years when I can find high-quality equities that are yielding far more in dividends, and where the capital value at the end of 20 years is almost certain to be more than the current value. Rather than take as its starting point the bland statement: “pension funds rely on bonds to fund yearly payouts”, the article could have focused far more attention on the reasons why DB pension funds believe that they have to follow this nonsensical investment strategy.

Jesus Christ, even our own company RMG is paying out at 6% - yet the trustees are stocking up on gilts paying 2% !!
I wonder who formulated the regulation that the fellow above mentions ?

[TrueBlueTerrier]

Handy hit - BBCode needs to ON for the Quote feature to work.

Huh, what went on there then. Hopefuly iv fixed it...

[Phantom]

It's not just about the pension, UrbanPirate drop me a link as to why royal mail are right and the union is wrong.

[UrbanPirate]

It's not just about the pension, UrbanPirate drop me a link as to why royal mail are right and the union is wrong.

Drop me and link as to why the union are right and RM are wrong. Its all subjective to what your personal beliefs are on how the business should be moving forward.

[maisymoo04]

can we stop fighting please this is what royalmail management want us to do come on folks

[greengiant]

Assuming that we get a big yes vote, how soon is it likely to be for the first strike to occur?

[k979aaa]

Assuming that we get a big yes vote, how soon is it likely to be for the first strike to occur?

Two weeks