RMP scheme trustees seeking urgent talks with government

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Royal Mail scheme trustees seeking urgent talks with government

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The trustees of the Royal Mail Pension Scheme are seeking urgent talks with the government to ensure the security of promises to members.

On Wednesday, business secretary Lord Mandelson said plans for the government to take over the pension scheme's existing assets and liabilities would not go ahead without an accompanying plan to part-privatise the Royal Mail - a plan that has now been postponed.

In letters sent to fund members yesterday, Jane Newell, the trustees' chairman, said that she was seeking meetings to find a new way forward.

She said that there was no risk to workers' pensions in the short term.

But in an earlier letter to Lord Mandelson, she warned of severe consequences should the reforms not go through (PP Online, February 24).

She said the plan's resources would not cover full member benefits and if the pension plan was wound up now it would not be able to provide 50% benefits.