New threat to post workers' pension rights from Royal Mail

[TrueBlueTerrier]

http://www.socialistworker.co.uk/art.php?id=14154

by Yuri Prasad

There was anger last week as Royal Mail announced that it intends to close its final average salary pension scheme to new entrants.

It said that a growing funding deficit was threatening the company’s ability to compete.

The company has previously made clear that it wants to raise the retirement age from 60 to 65, increase employee contributions and reduce benefits.

While government ministers, including chancellor Alistair Darling, rushed to offer their “full supportâ€

[Night Tonic]

“We are a publicly owned company and the pensions liabilities ought to be referred to the government.â€

[Phantom]

Yes but the government were quick to help northern rock, perhaps thats because there was a few quid in it for them somewhere along the line.

EVERYBODY OUT!!!

[Night Tonic]

Northern Rock had the potential for creating a financial disaster that could have had repercussions for all of us. If you think the government will bail out Royal Mail's pension deficit - think again. They won't.

[dogfood]

Expect nothing from the Government they are skint and any monies earned within Britain is finding its way out of the Country. The selling off of Britains manufacturing industries has left the UK with no goods to export ='s no income. Twenty Fives years plus of following the drive to push everything into the private sector has resulted in multinationals and rich business men plundering the very fabric of society. We have been bullshitted to about everything "We will replace the manufacturing sector by becoming serviced based" only for all this to be exported to India and other countries that have lower wages and therefore more profits to be stashed away in foreign bank accounts. The Government has to bail out Northern Rock because there is only private money left in Britain for them to plunder. Hence, the hikes in indirect taxes.

Just me opinion of course