Kretinsky making a bid ?

[BELIAL]

RMSPS is state backed. RMPP is RM run in the normal company way. The DBCBS (value = £4 billion +?) is not a pension and will not have the same legal protections. Given the revelation that the new pension scheme into which the DBCBS assets are to be transferred is to start in June , I know what I think about the timing of this bid.

[Jefferson Starfish]

RMSPS is state backed. RMPP is RM run in the normal company way. The DBCBS (value = £4 billion +?) is not a pension and will not have the same legal protections. Given the revelation that the new pension scheme into which the DBCBS assets are to be transferred is to start in June , I know what I think about the timing of this bid.

What makes you think the DBCBS will be transferred into the new scheme?

[BELIAL]

IT was the stated intention agreed by all sides. IT is a cash balance scheme awaiting re-assignment, in limbo until approval of CDCS. To be clear,I do NOT think it will ever get back to the employees who paid in ,take a look at what is going on, the vultures are circling and the clouds on the horizon are black. Take what you can and leave. I will not rely on a CWU postal executive seeking assurances to protect my best interests.

[TopperGas]

IT was the stated intention agreed by all sides. IT is a cash balance scheme awaiting re-assignment, in limbo until approval of CDCS. To be clear,I do NOT think it will ever get back to the employees who paid in ,take a look at what is going on, the vultures are circling and the clouds on the horizon are black. Take what you can and leave. I will not rely on a CWU postal executive seeking assurances to protect my best interests.

Pretty certain a company can no longer just steal it's employees pension contributions, there's even now protections in place if a company goes into Admin, although if you are old enough to take any pension money I'd certainly start taking it now, just in case the worse happens.

[Jefferson Starfish]

IT was the stated intention agreed by all sides. IT is a cash balance scheme awaiting re-assignment, in limbo until approval of CDCS. To be clear,I do NOT think it will ever get back to the employees who paid in ,take a look at what is going on, the vultures are circling and the clouds on the horizon are black. Take what you can and leave. I will not rely on a CWU postal executive seeking assurances to protect my best interests.

Where exactly was that stated please, preferably with a link.

The DBCBS has always been part of the RMPP and payable with nra65.

[clashcityrocker]

Keith Williams, chairman of IDS, said: “Reform is in the regulator’s hands and we urge Ofcom to accelerate their review.”

The pressure for the regulator to move quicker comes after Royal Mail last week rejected a shock takeover approach by Daniel Kretinsky, known as the “Czech sphinx”.

In a statement last week, Mr Kretinsky’s EP Group, which made the approach, specifically highlighted Royal Mail’s “slow transformation” as a factor putting the business under “unsustainable pressure”. The company said private investment would help to turn around the company.

With Red Wheel also making the same noises the cynic in me can't help but think this takeover bid is nothing but an attempt to pressure Ofcom into a quick decision.
In which case your pensions are safe.

[richietns]

Specifically highlighted Royal Mail’s “slow transformation” I think your right we've done nothing but transform for the last 12 year and "The company said private investment would help to turn around the company"thats what they said when it was initially privitised.

[SpacePhoenix]

Keith Williams, chairman of IDS, said: “Reform is in the regulator’s hands and we urge Ofcom to accelerate their review.”

The pressure for the regulator to move quicker comes after Royal Mail last week rejected a shock takeover approach by Daniel Kretinsky, known as the “Czech sphinx”.

In a statement last week, Mr Kretinsky’s EP Group, which made the approach, specifically highlighted Royal Mail’s “slow transformation” as a factor putting the business under “unsustainable pressure”. The company said private investment would help to turn around the company.

With Red Wheel also making the same noises the cynic in me can't help but think this takeover bid is nothing but an attempt to pressure Ofcom into a quick decision.
In which case your pensions are safe.

Sounds like Keith has forgot that OFCOM don't have any say on changes to the USO with that being solely down to parliament

[TopperGas]

Keith Williams, chairman of IDS, said: “Reform is in the regulator’s hands and we urge Ofcom to accelerate their review.”

The pressure for the regulator to move quicker comes after Royal Mail last week rejected a shock takeover approach by Daniel Kretinsky, known as the “Czech sphinx”.

In a statement last week, Mr Kretinsky’s EP Group, which made the approach, specifically highlighted Royal Mail’s “slow transformation” as a factor putting the business under “unsustainable pressure”. The company said private investment would help to turn around the company.

With Red Wheel also making the same noises the cynic in me can't help but think this takeover bid is nothing but an attempt to pressure Ofcom into a quick decision.
In which case your pensions are safe.

Sounds like Keith has forgot that OFCOM don't have any say on changes to the USO with that being solely down to parliament

RM are claiming that the changes they are proposing to the USO only require approval from OFCOM?

[Barnacle]

Keith Williams, chairman of IDS, said: “Reform is in the regulator’s hands and we urge Ofcom to accelerate their review.”

The pressure for the regulator to move quicker comes after Royal Mail last week rejected a shock takeover approach by Daniel Kretinsky, known as the “Czech sphinx”.

In a statement last week, Mr Kretinsky’s EP Group, which made the approach, specifically highlighted Royal Mail’s “slow transformation” as a factor putting the business under “unsustainable pressure”. The company said private investment would help to turn around the company.

With Red Wheel also making the same noises the cynic in me can't help but think this takeover bid is nothing but an attempt to pressure Ofcom into a quick decision.
In which case your pensions are safe.

Sounds like Keith has forgot that OFCOM don't have any say on changes to the USO with that being solely down to parliament

RM are claiming that the changes they are proposing to the USO only require approval from OFCOM?

The writer of the article possibly doesn’t realise that the final word doesn’t rest with OFCOM.

[clashcityrocker]

They aren't proposing changes to the USO.
Slowing the delivery of anything that isn't a first class letter isn't a change to the USO.
The proposals don't require parliamentary approval.
They are down to Ofcom and Ofcom alone.

[TopperGas]

Keith Williams, chairman of IDS, said: “Reform is in the regulator’s hands and we urge Ofcom to accelerate their review.”

The pressure for the regulator to move quicker comes after Royal Mail last week rejected a shock takeover approach by Daniel Kretinsky, known as the “Czech sphinx”.

In a statement last week, Mr Kretinsky’s EP Group, which made the approach, specifically highlighted Royal Mail’s “slow transformation” as a factor putting the business under “unsustainable pressure”. The company said private investment would help to turn around the company.

With Red Wheel also making the same noises the cynic in me can't help but think this takeover bid is nothing but an attempt to pressure Ofcom into a quick decision.
In which case your pensions are safe.

I think you could well be right, particularly when you consider the share price isn't reflecting even the opening offer, which suggests the market know the true score. When are OFCOM expected to respond to RM's proposals, is that before DK as to make a formal offer in mid May?