Pensions : the latest (From My Royal Mail)

[TrueBlueTerrier]

https://www.myroyalmail.com/mrm/appnews ... aspx?i=589" onclick="window.open(this.href);return false;

Friday 24 February

It’s been another busy month on the pension front, as company secretary Jon Millidge explains.

We are working hard to make sure we’re ready for the Government to take on our historic pension liabilities. We hope the transfer will take place at the end of March.

The change will give pension members greater security. But the transfer depends on getting approval from the EU Commission.

The amount the business has to pay to the Royal Mail Pension Plan each year towards clearing the deficit is a crippling burden on us.

If the Government gets the green light to take this away from us, the financial health of the company will be greatly improved.

Independent chairman
You may have seen that the Government has appointed an independent chairman, Alan Pickering, to help manage the new pension scheme it will set up to provide the benefits being transferred to it.

Alan has a vast amount of experience in the pensions sector. He currently sits on the Board of the Pensions Regulator and was previously chairman of the National Association of Pension Funds.

The Government is also putting together the specialist team that will be responsible for the day-to-day management of its new scheme.

Greater security
We believe these changes give members greater security. It’s very important that you understand the changes that are taking place.

So we will be keeping everyone updated regularly. Once the EU Commission has made its decision, we will be writing to you all to explain what is happening and how it affects you.

In the meantime, you can contact the Pensions Service Centre if you have any questions.

Call the helpline on 0114 241 4545 (staff) and 0845 603 0043 (pensioners).

[borgpicard]

WHAT THE f**k HAS EUROPE GOTTA DO WITH OUR MONEY ?