Royal Mail pension fund deficit now stands at £10 BILLION

thieving**s that have been (mis)managing it for years

Probably under Crozier's matress on his Caribbean island.

panorama on tuesday evening is about royal mail

The Treasury sneaked out the total unfunded pension liability for the UK on the same day as Darling gave the pre-Budget nonsense. It's about £80,000 per household in the UK. Add that to the £55,000 bail-out liability - and we are truly bust/buggered!

dont send cash by post

i don't understand the we bit

i'm fine ta

Royal Mail sent me a Christmas card this year, which is nice of them.

Oh yes you are. When you reach retirement age cb (it will have been adjusted up to 95) your total annual pension will buy you a loaf of bread - maybe.

how many staff have they got - in other words, how much per member of staff?

that's a long way off to start worrying about, and anyway i'd have prob left the uk by then

worrying about handouts isn't my bag

I love the way people on here think the rest of the world is going to welcome them with open arms. When hard times hit, Johnny Foreigner (ie you) will be the first for the machete.

worrying about handouts isn't my bag
it's not about handouts, the people who have paid into the pension funds are getting ripped off, hth

going to have to be some huge decisions made in the not too distant future. I can see people with enough of a private pension denied the statutory state pension. Also, wouldn't be surprised if public sector pensions get reduced by 25% solely on the basis that they can't be afforded.

Can't see the tax payer helping with Royal Mail pensions tbh given the precedent it would set.

it won't happen yojimbo, exactly the same reason they wouldn't bale out those poor mirror group people, couldn't afford the precedent :(

the pensions should be ring fenced by law, end of

pension funds are like betfair

a gamble

not if the company takes a payment "holiday" of several years.

yes, your investment portfolio may go up and down, but only if your employer actually pays into it.

agree Tevez. The UK needs a group that will look after its interests for the long term ie specifically looking at the next 10 to 50 years. Governments focus policies on the next couple of years, and unpopular long term decisions just don't get taken. Hence public sector pensions, lack of prison spaces, issues all getting more urgent but no-one actually does anything :-(

What i find amazing is the company i work for laid off lots of staff post privatisation with lump sums of up to 2 years salary and the money they used was from the pension fund. I know they claim they will pay it back but it doesn't seem right to me.

Postmen arent alone in this. People across the Public sector like teachers have been made promises on pensions that will never be able to be kept. At least if Govt fronted up and admitted it then people would have time to make some alternative provision.

postmen are alone in the fact that the government told royal mail to take a pension holiday and to stop paying into fund. FOR OVER 15 YEARS.

at least its partly funded unlike other public sector pension schemes

redbag 11 Dec 12:49


panorama on tuesday evening is about royal mail

Thought it was monday. anyway as the title suggests you know its a political stunt to** off the worker.

mtoto


they took a holiday for 15 years, as it happens just when i joined but the government still took there slice of the cake each year from the po which they had to pay.