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Is the pension surplus more likely going to be used to benefit all current employees or more likely going to benefit anyone that is alive today that has paid into any Royal Mail pension?
I am asking this as I am curious as to whether I should make sure I am employed at the time they make a decision on this, as I am considering leaving RM in the next year or 2....
I am at least interested in seeing how Kretinsky changes things and whether the changes are for the better or not as I do like working as a postie for the most part.
EP group and the CWU recently came to an agreement to what they want to do with the RMPP surplus. Basically they want to split it between investment in RMG and for the benefit of employees.
Brief details can be found here: https://www.internationaldistributionse ... eement.pdf
The RMPP trustees do have a say over how much of the surplus can be released and they could still say they want want RMPP members specifically to gain from it.
Considering a majority of current employees don't have RMPP benefits, personally I think that would be a fair thing to do!
There isn't a set timetable and it could be a few years before any surplus cash is released and it may also depend on what the trustees plans are for the scheme. For example: Continue to run it as now or go the buy in/buy out route.
The CWU did initially say they wanted the surplus to reduce the NRA of the new collective pension, but they seem to have gone quiet on that.
Presumably because someone told them it would need a bottomless pit of money for it to be a feasible proposition!
Surely the RMPP trustees should look after the interests of the RMPP members not what the CWU are proposing where employees are prioritised some a lot of which are not even RMPP members!
Even if the age is reduced by 1 year to 66 I'd be happy with that, better than nothing.
But it would mean that present RMPP pensioners would receive no benefit from the surplus.... why should they subsidise a completely different pension scheme?
The union leadership should hang their heads in shame that they have put their names to this proposal.
But we have found with recent agreements that they are more interested in making sure that the union survives above all else.
I see senior union officials as a de facto level of Royal Mail management.
Surely the RMPP trustees should look after the interests of the RMPP members not what the CWU are proposing where employees are prioritised some a lot of which are not even RMPP members!
Who are the CWU to decide what happens with pension surplus anyway
We paid into it - RM paid into it for the sole purpose of OUR pension
RM should not get a single penny - it is for us and us alone
It is theft and i would like the CWU rep (forgot his name) on here to try and justify it
What the CWU are supporting is a disgrace
OUR money will be used to help RM - how exactly would that money be spent and on what and who spends it.
No wonder the new owner wants his greedy hands on RM he is getting free money - our money.
Surely the RMPP trustees should look after the interests of the RMPP members not what the CWU are proposing where employees are prioritised some a lot of which are not even RMPP members!
Who are the CWU to decide what happens with pension surplus anyway
We paid into it - RM paid into it for the sole purpose of OUR pension
RM should not get a single penny - it is for us and us alone
It is theft and i would like the CWU rep (forgot his name) on here to try and justify it
What the CWU are supporting is a disgrace
OUR money will be used to help RM - how exactly would that money be spent and on what and who spends it.
No wonder the new owner wants his greedy hands on RM he is getting free money - our money.
Your views seems a little right wing, surely this money ought to be used for the greater good, and help our colleagues who are less fortunate.
Surely the RMPP trustees should look after the interests of the RMPP members not what the CWU are proposing where employees are prioritised some a lot of which are not even RMPP members!
Who are the CWU to decide what happens with pension surplus anyway
We paid into it - RM paid into it for the sole purpose of OUR pension
RM should not get a single penny - it is for us and us alone
It is theft and i would like the CWU rep (forgot his name) on here to try and justify it
What the CWU are supporting is a disgrace
OUR money will be used to help RM - how exactly would that money be spent and on what and who spends it.
No wonder the new owner wants his greedy hands on RM he is getting free money - our money.
Your views seems a little right wing, surely this money ought to be used for the greater good, and help our colleagues who are less fortunate.
What ????
Oh i forgot it is you Milly our resident economics expert
Surely the RMPP trustees should look after the interests of the RMPP members not what the CWU are proposing where employees are prioritised some a lot of which are not even RMPP members!
Who are the CWU to decide what happens with pension surplus anyway
We paid into it - RM paid into it for the sole purpose of OUR pension
RM should not get a single penny - it is for us and us alone
It is theft and i would like the CWU rep (forgot his name) on here to try and justify it
What the CWU are supporting is a disgrace
OUR money will be used to help RM - how exactly would that money be spent and on what and who spends it.
No wonder the new owner wants his greedy hands on RM he is getting free money - our money.
Your views seems a little right wing, surely this money ought to be used for the greater good, and help our colleagues who are less fortunate.
What ????
Oh i forgot it is you Milly our resident economics expert and tin hat doomsayer
1, You don't believe the money ought to be used for the greater good to help our fellow colleagues?
2, Or do you believe the money should only be dispersed amongst the people who've paid into the pension?
You seem drawn to the right wing answer rather than the left wing answer, most probably because you become right wing when you perceive that your cash is going to be given to someone who may not have contributed to the pension
As for being an economics expert, anyone with half a brain can see the economy is going down the gurgler thanks to a real economics expert called Rachel Reeves,lol!
It's very simple in my eyes, it should go to the people who paid into the fund. There is no left or right wing answer
Should I/we take money from our bank accounts if we are lucky enough to have saved some money during our time working for RM and give it to new staff? youre basically suggesting the same thing
It's very simple in my eyes, it should go to the people who paid into the fund. There is no left or right wing answer
Should I/we take money from our bank accounts if we are lucky enough to have saved some money during our time working for RM and give it to new staff? youre basically suggesting the same thing
Someone on the left would have no problem with other people's money being redistributed amongst all of the workers ,whereas some on the right would insist that it is distributed amongst the people who paid in.
I'm merely shining a light on the hypocritical views of some of the lefties on here.
They're all for the redistribution of wealth so long as its not their money.
Personally, I think the money ought to be left where it is.
It's very simple in my eyes, it should go to the people who paid into the fund. There is no left or right wing answer
Should I/we take money from our bank accounts if we are lucky enough to have saved some money during our time working for RM and give it to new staff? youre basically suggesting the same thing
The least the RMPP trustees should be agreeing to is that all members of the RMPP,employed and ex employed should be part of any extra surplus benefit.Certainly if as the CWU want that non RMPP members are!
It's very simple in my eyes, it should go to the people who paid into the fund. There is no left or right wing answer
Should I/we take money from our bank accounts if we are lucky enough to have saved some money during our time working for RM and give it to new staff? youre basically suggesting the same thing
Someone on the left would have no problem with other people's money being redistributed amongst all of the workers ,whereas some on the right would insist that it is distributed amongst the people who paid in.
I'm merely shining a light on the hypocritical views of some of the lefties on here.
They're all for the redistribution of wealth so long as its not their money.
Personally, I think the money ought to be left where it is.
We know that people on the left have no problems spending other people's money.
