Royal Mail pension news and discussion.Please note the advise given in this forum is unofficial, please use the links we have for a more detailed response or see an independent financial adviser.
markj113 wrote:there are many other people in other industries in the same situation. the unions should join forces and bring the country to stand still and make the government realise we arent gonna take this crap
Unfortunately workers here are not so militant as the French in defence of their pensions.
And the Union leaders are too far up New Labour to rock the boat.
Some of us have given this company years of loyal service
With the reward of having a GOOD PENSION to look forward too
Upon our retirement at the age of "60"
Alais yet again we are to be KICKED IN THE CRUTCH.
Please someone tell me that at least on this issue the union have
THE BALL'S TO STAND THEIR GROUND!!!
:cfo :lfo :cfo :lfo :cfo :lfo :cfo :lfo
I have received "THE COMPANY'S DECISION" today.
CWU EXECUTIVE WHAT THE F***S GOING ON??????????
markj113 wrote:there are many other people in other industries in the same situation. the unions should join forces and bring the country to stand still and make the government realise we arent gonna take this crap
Brave words - but they aren't and we are.
that sounds right how many storys have there been about strikes since we got an agreement and they all ended up been resolved with no IA.
Apart from Burslem they went out for 6 weeks
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All post by me in Green are Admin Posts.May use chatgp to generate posts Any post in any other colour is my own responsibility. If you like a news story I posted please click the link to show support
Any news stories you can't post - PM me with a link Retired
markj113 wrote:there are many other people in other industries in the same situation. the unions should join forces and bring the country to stand still and make the government realise we arent gonna take this crap
Brave words - but they aren't and we are.
that sounds right how many storys have there been about strikes since we got an agreement and they all ended up been resolved with no IA.
mailman71 wrote:we should be balloted for strike action now ,this is a shocker
The CWU keep saying we will be balloted and have the final say but that is just not true - RM DO NOT need the acquiescence of the union or the membership to vary the rules for the pension scheme. THAT is the plain and simple truth and the CWU should be making a point of that. It seems to me they are trying to capitalise on the changes to the scheme by negotiating an inclusion in forward planning for the business on the strength of recommending the changes.
The money paid into the new pension scheme is to remain unchanged. Is it possible to use that money along with the rest of the CWU members and any other union persons outwith the CWU who are also having pension problems to set up a private pension. The money the members have put in to the RM pension so far will remain unchanged and if we withdraw our money from this new fangled pension scheme it will F*ck up RM truly as they wont have any of our money to put towards the deficit. I dont know if we could get as good a deal as the RM pension we thought we were getting but Im sure we can get a better deal than this new one.
Anyone on here that has sufficient knowledge of pensions that could knock me down or could inject a more specific idea for doing this.
Broxi51 wrote:The money paid into the new pension scheme is to remain unchanged. Is it possible to use that money along with the rest of the CWU members and any other union persons outwith the CWU who are also having pension problems to set up a private pension. The money the members have put in to the RM pension so far will remain unchanged and if we withdraw our money from this new fangled pension scheme it will F*ck up RM truly as they wont have any of our money to put towards the deficit. I dont know if we could get as good a deal as the RM pension we thought we were getting but Im sure we can get a better deal than this new one.
Anyone on here that has sufficient knowledge of pensions that could knock me down or could inject a more specific idea for doing this.
Sad to say that the flaw in your plan is that a private pension funded with your own money would cost far more than the new scheme which RM will still contribute to, it is in truth not that bad - what is bad is the later retirement, smaller lump sum payment and smaller pension but that will be relative to length of service. I am not sure what the outcome would be if you continued to contribute from 60 to 65, or 45 years, which would affect the eventual final pension and would, with the career average input, add another five years to the final aggregate.
I am not well versed in pensions law but I was under the impression that you couldn't actually contribute for more than 40 years but maybe the law has been changed because this plan does give that option.
Broxi51 wrote:The money paid into the new pension scheme is to remain unchanged. Is it possible to use that money along with the rest of the CWU members and any other union persons outwith the CWU who are also having pension problems to set up a private pension. The money the members have put in to the RM pension so far will remain unchanged and if we withdraw our money from this new fangled pension scheme it will F*ck up RM truly as they wont have any of our money to put towards the deficit. I dont know if we could get as good a deal as the RM pension we thought we were getting but Im sure we can get a better deal than this new one.
Anyone on here that has sufficient knowledge of pensions that could knock me down or could inject a more specific idea for doing this.
Sad to say that the flaw in your plan is that a private pension funded with your own money would cost far more than the new scheme which RM will still contribute to, it is in truth not that bad - what is bad is the later retirement, smaller lump sum payment and smaller pension but that will be relative to length of service. I am not sure what the outcome would be if you continued to contribute from 60 to 65, or 45 years, which would affect the eventual final pension and would, with the career average input, add another five years to the final aggregate.
I am not well versed in pensions law but I was under the impression that you couldn't actually contribute for more than 40 years but maybe the law has been changed because this plan does give that option.
I just wondered if posties, the police, teachers, nurses and all other people contributing towards different pensions decided to fix on one pension. Millions paying into one pension rather than thousands paying into hundreds of pensions should be able to get better deals. Like I said, I know nothing of pensions and how they work but surely lots into one is better than few into few
Broxi51 wrote:The money paid into the new pension scheme is to remain unchanged. Is it possible to use that money along with the rest of the CWU members and any other union persons outwith the CWU who are also having pension problems to set up a private pension. The money the members have put in to the RM pension so far will remain unchanged and if we withdraw our money from this new fangled pension scheme it will F*ck up RM truly as they wont have any of our money to put towards the deficit. I dont know if we could get as good a deal as the RM pension we thought we were getting but Im sure we can get a better deal than this new one.
Anyone on here that has sufficient knowledge of pensions that could knock me down or could inject a more specific idea for doing this.
Sad to say that the flaw in your plan is that a private pension funded with your own money would cost far more than the new scheme which RM will still contribute to, it is in truth not that bad - what is bad is the later retirement, smaller lump sum payment and smaller pension but that will be relative to length of service. I am not sure what the outcome would be if you continued to contribute from 60 to 65, or 45 years, which would affect the eventual final pension and would, with the career average input, add another five years to the final aggregate.
I am not well versed in pensions law but I was under the impression that you couldn't actually contribute for more than 40 years but maybe the law has been changed because this plan does give that option.
I just wondered if posties, the police, teachers, nurses and all other people contributing towards different pensions decided to fix on one pension. Millions paying into one pension rather than thousands paying into hundreds of pensions should be able to get better deals. Like I said, I know nothing of pensions and how they work but surely lots into one is better than few into few
Some have non-contribtory pensions, but the up shot is that the employer contributes to the scheme and would not do so if they didn't have control of it.
