Royal Mail float hit by pension row

[TrueBlueTerrier]

http://www.thesundaytimes.co.uk/sto/bus ... 2013_06_08" onclick="window.open(this.href);return false;

ROYAL MAIL faces a threat to its £3bn float over plans to cut workers’ pension benefits.

Union leaders are furious about the move to cap retirement payments for postal staff and have threatened to call a national strike.

Industrial action could disrupt one of the biggest privatisations since the 1980s, when BT, British Airways, British Gas and others were sold to private investors.

The state-owned postal giant has written to members of its final salary retirement scheme to outline proposals that would cap increases in pensionable pay at the rate of inflation, up to a maximum of 5%, regardless of pay rises.

It said the cost of supporting the pension “is just not affordable, for you or us” and admitted it had even considered closing the gold-plated scheme altogether.

[fishtank]

gold-plated scheme

[mandelsons_toenail]

Lets get on the gate.

[UnhappyGremlin]

gold-plated scheme

That's what I thought.
The only real gold plated pension deals, which will no doubt be iron clad, are those of the senior management and the top echelons of the union.
I'm beginning to wonder if RM are trying to start a big fight.
Either way, I think they're going to get one.

[Kidders]

It starting to look like RM want a dispute, whether it it is over privatisation, work place issues, pay, or what ever.
Just to imflame the situation they have now throw pensions into the mix, but it does'nt make sense.

I thought that potential investers would be put off by industrial issues, maybe they are testing our strength ?

If that is the case, regardless of their strategy, we must remain clear on ours, we must demand full CWU involvement on core issues, continue with full consutation of our membership, we must remain united, together we are strong.

[janitor]

The only gold plated scheme left, is the parliamentary one, don't see the government closing that in these austere times, but don't forget cameron said were all in it together so obviously just an oversight.