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Latest RMG pensions debate in the House of Lords
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Big Daz
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Latest RMG pensions debate in the House of Lords
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AnotherLimey
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Re: Latest RMG pensions debate in the House of Lords
What a lot of tosh, my lord this and my lord that, bet they wont be walking the streets at 67 with a reduced pension 
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Big Daz
- Posts: 5668
- Joined: 17 Apr 2007, 20:27
- Gender: Male
Re: Latest RMG pensions debate in the House of Lords
Aah , but we did learn something from it.
From this little gem I would say this agreemnt we are voting will not in itself deliver the government action on pensions we need.
Lord Young of Norwood Green (Government Whip (technically a Lord in Waiting, HM Household); Labour)
That has not yet been fully validated because this matter is going through the proper valuation process with the trustees. We believe that the pension scheme is a matter for the company and the trustees to work out between them. We made clear our view that if we were going to take on that liability, it would have to be as a part of the Hooper review recommendations. They are threefold, as I am sure the noble Lord remembers, including external investment and the modernisation programme. The good news is that, as we speak, an agreement has been reached between the CWU and Royal Mail and a ballot will take place this week on the modernisation agreement, so there has been progress in the right direction.
From this little gem I would say this agreemnt we are voting will not in itself deliver the government action on pensions we need.
Lord Young of Norwood Green (Government Whip (technically a Lord in Waiting, HM Household); Labour)
That has not yet been fully validated because this matter is going through the proper valuation process with the trustees. We believe that the pension scheme is a matter for the company and the trustees to work out between them. We made clear our view that if we were going to take on that liability, it would have to be as a part of the Hooper review recommendations. They are threefold, as I am sure the noble Lord remembers, including external investment and the modernisation programme. The good news is that, as we speak, an agreement has been reached between the CWU and Royal Mail and a ballot will take place this week on the modernisation agreement, so there has been progress in the right direction.