PROFIT DECLARATION

[POSTMAN]

I think they pay something like £280m into the pension fund each year.

£867m for the last FY

Whoa!

[fishtank]

I think they pay something like £280m into the pension fund each year.

£867m for the last FY

Whoa!

I would imagine that includes normal contributions.

[POSTMAN]

Royal Mail’s pension deficit, due to be revalued from £3.4bn to at least £10bn next month, remains a potentially serious barrier for bidders unless the government agrees to relieve the burden. Royal Mail injected £867m into the fund last year.

http://www.royalmailchat.co.uk/communit ... 38&t=27175" onclick="window.open(this.href);return false;

[fishtank]

Royal Mail’s pension deficit, due to be revalued from £3.4bn to at least £10bn next month, remains a potentially serious barrier for bidders unless the government agrees to relieve the burden. Royal Mail injected £867m into the fund last year.

http://www.royalmailchat.co.uk/communit ... 38&t=27175" onclick="window.open(this.href);return false;

From the full accounts
Pensions cash funding: Group contributions 2009
£m
...................................................2009........2008
Regular pension contributions..... ...........551....... ..550
Funding of pension deficit.... ................290 .........284
Payments relating to redundancy.............. 32 ..........36
Prepayment of 2009 regular pension
contributions ....................................(50)....... ..50
Net cash payments ..............................823.........920

Lies,damm lies and statistics.
It's actually gone down since 2008.

[POSTMAN]

Ahhh i see so i was sorta right about the £280m.

Now we add that onto the profits,and we made bundles!!!

[Big Daz]

Ahhh i see so i was sorta right about the £280m.

Now we add that onto the profits,and we made bundles!!!

"we"

I like that, the figures are clear that CWU grade staff have through being more efficent (to use the CWU term) made the profits possible.