According to recent reports, the Royal Mail will attempt to close down its final salary pension scheme to all members. The company will instead offer employees, both new and old, a ‘career average’ pension scheme .
The company are also planning to raise their standard retirement age from 60 to 65. The company is facing major strikes by its staff.
Paul Reuter, a national officer for Unite, the trade union representing Royal Mail managerial staff, reportedly commented: "We will support it [the pension changes], rather than fight it. It is the right thing to do given the state of the business . There will still be a link with earnings in the future."
However, this agreement is not likely to be echoed throughout Royal Mail staff, who may oppose the closure of the pensions scheme .
Pension scheme provided by Royal Mail will be closed
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Pension scheme provided by Royal Mail will be closed
Fri, 05 Oct 2007
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