Royal Mail Privatisation To Move Step Closer

[t-c]

http://uk.news.yahoo.com/royal-mail-pri ... 30341.html

The privatisation of the Royal Mail could begin this summer, as the bill formally allowing the sell-off is expected to be passed in parliament.

The precise workings of the sale are yet to be agreed, but there are concerns about what it will mean for the service and its staff.

The ammended Postal Services Bill protects the so-called universal postal service in its current form for at least the life of the current parliament.

The Post Office network will remain unchanged, and the Government will assume responsibility for the Royal Mail's pension scheme's £8.4bn defecit.

Despite those guarantees, the unions are still talking tough.

Billy Hayes, general secretary of the Communication Workers Union, told Sky News: "The fact of the matter is the British public don't want to see the Royal Mail privatised.


" Vince Cable is flogging this company to the very people he denounced at the Liberal Party Conference - the spivs, the speculators and those who just want to make a fast buck."

Royal Mail has been faring relatively well in recent years, although the latest results saw a 73% fall in profits and a continued reduction in mail volumes.

Richard Hooper advised the Government to privatise Royal Mail.

In his report he predicted mail volumes would fall 40% in the next five years, but believes private investment is the best way of preserving the "universal service".

He said: "In order to maintain the universal service the finances of the Royal Mail need to be stabilised and made more robust.


"The reason for this is the coming of e-mail, the coming of the internet and mobile phone texting has significantly eroded letters volumes."

The problem isn't unique to the Royal Mail.

Across Europe other companies are having to cut costs, modernise their equipment and come to terms with a reduced demand for mail deliveries.

Despite their tough talk the unions have already agreed to work with the Royal Mail in cutting 8,000 jobs a year until 2013.


Many experts say further cuts will be needed before the company is a viable proposition.

Rob Wotherspoon works for the Royal Mail in Bristol.

He is concerned that privatisation will provide uncertainty for his colleagues and their customers.

He said: "Me and other postal workers feel that we provide an important service to the public rural communities and small businesses.

"We think it's too risky to gamble with that by introducing a private company that's only going to be interested in the bottom line."

The Government has so far not said if it has a buyer in mind for the Royal Mail, the Dutch company TNT was previously linked to investing in the company, but is now undergoing a restructuring and demerger.

A private equity firm could be tempted and even a management buyout is a possibility.

Whatever happens the staff will be given a stake in the new private company, even if the future for many of them seems far from certain.

[red 86]

R.I. P royal mail we have been stabbed in the back . con dems would sell there kids if they could. dont count on them to look after are pensions they will try there best to get out of that as well

[Bongos]

R.I. P royal mail we have been stabbed in the back . con dems would sell there kids if they could. dont count on them to look after are pensions they will try there best to get out of that as well

On Pensions i am now taking mine out because i can't trust Royal Mail and the Goverment with my money i might be losing some payment but i feel i need the money now as to many people i know have not even reached retirement.
One of my work mates phoned up to get his estamite forms for his pension and the guy at the other end of the phone was not very helpful and his words were goodness not another one taking his pension early. So it's catching on

So think hard evey one should you stay or should you go.

[Lovemoney]

R.I. P royal mail we have been stabbed in the back . con dems would sell there kids if they could. dont count on them to look after are pensions they will try there best to get out of that as well

On Pensions i am now taking mine out because i can't trust Royal Mail and the Goverment with my money i might be losing some payment but i feel i need the money now as to many people i know have not even reached retirement.
One of my work mates phoned up to get his estamite forms for his pension and the guy at the other end of the phone was not very helpful and his words were goodness not another one taking his pension early. So it's catching on

So think hard evey one should you stay or shoud you go.

I need advice...withrawn pension is it got depend the age, if not reach retirement can i transfer pension somewhere else? Thanks

[Bongos]

Yes you can take your pension from age 55 to transfer it would be best to see a Financial Advisor.

I have a very good one he has been a great help.

[Lovemoney]

Yes you can take your pension from age 55 to transfer it would be best to see a Financial Advisor.

I have a very good one he has been a great help.

thanks

[Lounge Lizard]

R.I. P royal mail we have been stabbed in the back . con dems would sell there kids if they could. dont count on them to look after are pensions they will try there best to get out of that as well

On Pensions i am now taking mine out because i can't trust Royal Mail and the Goverment with my money i might be losing some payment but i feel i need the money now as to many people i know have not even reached retirement.
One of my work mates phoned up to get his estamite forms for his pension and the guy at the other end of the phone was not very helpful and his words were goodness not another one taking his pension early. So it's catching on

So think hard evey one should you stay or shoud you go.

I need advice...withrawn pension is it got depend the age, if not reach retirement can i transfer pension somewhere else? Thanks

I could look after your pension for you.

[TrueBlueTerrier]

R.I. P royal mail we have been stabbed in the back . con dems would sell there kids if they could. dont count on them to look after are pensions they will try there best to get out of that as well

On Pensions i am now taking mine out because i can't trust Royal Mail and the Goverment with my money i might be losing some payment but i feel i need the money now as to many people i know have not even reached retirement.
One of my work mates phoned up to get his estamite forms for his pension and the guy at the other end of the phone was not very helpful and his words were goodness not another one taking his pension early. So it's catching on

So think hard evey one should you stay or shoud you go.

I need advice...withrawn pension is it got depend the age, if not reach retirement can i transfer pension somewhere else? Thanks

I could look after your pension for you.

Mr Maxwell welcome back, did you enjoy your swim.