DB Pension Scheme to close in April 2018

slinder123 · Post by **slinder123** » 12 Apr 2017, 21:48

terry pullinger just been informed that the db pension scheme will close down april 2018

Post by **POSTMAN** » 12 Apr 2017, 21:54

Terry Pullinger wrote:Charming, went in for routine shoulder surgery today, which the business knew about, and they chose today to formally inform of their decision to close our DB Pension Scheme in April 2018. No surprise of course, but just shows the people we are dealing with, you can't buy class. Be under no illusion, we do not accept their decision, we will not wait until 2018 to achieve an agreement, and we will fight with all means at our disposal for a 'Wage in Retirement Scheme' for ALL of our members.

jetblack · Post by **jetblack** » 12 Apr 2017, 22:14

Yes - but what is it going to be replaced with ?

Consultation period has come and gone - where are we now ?

Post by **aiden01** » 12 Apr 2017, 22:18

jetblack wrote:Yes - but what is it going to be replaced with ?

Consultation period has come and gone - where are we now ?

STRIKE

Post by **fly-catchers** » 12 Apr 2017, 22:19

jetblack wrote:Yes - but what is it going to be replaced with ?

Consultation period has come and gone - where are we now ?

The RM DC scheme I bet!!

TheTrolleyMan · Post by **TheTrolleyMan** » 13 Apr 2017, 05:08

CWU It's time to shine !

BeamishStout · Post by **BeamishStout** » 13 Apr 2017, 08:02

No surprise by this announcement. I would not be surprised if RM also formally reject the CWU sponsored alternative to a RM defined contribution scheme.

DiamondSmiles · Post by **DiamondSmiles** » 13 Apr 2017, 09:10

Investors are cheering, the share price is surging. Well I am so glad

Deadly · Post by **Deadly** » 13 Apr 2017, 09:46

aiden01 wrote:
jetblack wrote:Yes - but what is it going to be replaced with ?

Consultation period has come and gone - where are we now ?
STRIKE

Christmas could be very interesting.

Post by **bustedflush** » 13 Apr 2017, 11:21

ranger1 wrote:Currently it cost 400 million a year from royal mail...

But 2018 it will cost a billion pound...

Anyone Know why the cost suddenly increased from 400 million to a billion ????

Because it had built up a large surplus which is subsidizing the losses each year, but the surplus will be spent by 2019 at which point 1bn will be unaffordable and wipe out all RMs profit effectively and put the business at a loss. So something has to give - you people!

fishtank · Post by **fishtank** » 13 Apr 2017, 11:50

Deadly wrote:Christmas could be very interesting.

The union needs to be very careful how it plays this.
Look at how RM have played it.
We are now in a situation where we are simultaneously negotiating....

1) Pension
2) Pay Rise
3) Terms and conditions (extensions to legal protection and MTSF, legacy payments etc)
4) Major Change (monthly pay, annualised hours, monitoring and control of working hours , one plan, closure of mailcentres and DOs etc)

What do you do if the business offers concessions on 2-4 but not on the pension? Bearing in mind a lot of members are not in the DB scheme a strike vote would be suicidal under those circumstances. Alternatively what do you do if the business offers major concessions on the pension but the price is tearing up MTSF and the legal protections?, again it's a no win situation for the union.
What are the members priorities? I know what mine are but I'm not everyone.

My prediction.

1. We'll end up in a DC scheme that's a little better than the existing DC scheme.

2. We'll get a 3 year pay deal that pretty much matches inflation, perhaps with a phased reduction in the working week.

3 We'll get another possibly 3 year extension to most of the legal protections and MTSF with the provisio that MTSF is reviewed and rewritten over those 3 years, legacy payments also given a 3 year "reprieve".

4.We will agree to trial whatever silly ideas royal mail has in the hope that we can bury them although a change in start times in DOs is inevitable, annualised hours don't think so, monitoring of hours probably, monthly pay doubt it.

There will be a lot of sabre rattling on both sides, threats will be thrown about but the chance of it ever coming to a national strike are very slim. It's been 10 years since we've had a proper national strike if you don't include the farce in 2009 and I doubt I'll see another one. Some of the stronger areas might do there own thing but even that's a dead end now.

Having said all that I'd vote for strike action tomorrow over any of these issues and would be at the gate cooking sausages, that's what a union member does, you give your negotiators the strongest hand possible.

stevepostman · Post by **stevepostman** » 13 Apr 2017, 12:14

More than happy to hit the streets.

daveyeff · Post by **daveyeff** » 13 Apr 2017, 15:57

BeamishStout wrote:No surprise by this announcement. I would not be surprised if RM also formally reject the CWU sponsored alternative to a RM defined contribution scheme.

they HAVE rejected the CWU alternative. Sky news put out.....the company statement said:-Royal Mail has reviewed the consultation feedback received from members, and its unions, the CWU and Unite/CMA. ''This includes a proposal put forward by the CWU.''.

themoog · Post by **themoog** » 13 Apr 2017, 16:15

fishtank wrote:

My prediction.

1. We'll end up in a DC scheme that's a little better than the existing DC scheme.

2. We'll get a 3 year pay deal that pretty much matches inflation, perhaps with a phased reduction in the working week.

3 We'll get another possibly 3 year extension to most of the legal protections and MTSF with the provisio that MTSF is reviewed and rewritten over those 3 years, legacy payments also given a 3 year "reprieve".

4.We will agree to trial whatever silly ideas royal mail has in the hope that we can bury them although a change in start times in DOs is inevitable, annualised hours don't think so, monitoring of hours probably, monthly pay doubt it.

There will be a lot of sabre rattling on both sides, threats will be thrown about but the chance of it ever coming to a national strike are very slim. It's been 10 years since we've had a proper national strike if you don't include the farce in 2009 and I doubt I'll see another one. Some of the stronger areas might do there own thing but even that's a dead end now.

Having said all that I'd vote for strike action tomorrow over any of these issues and would be at the gate cooking sausages, that's what a union member does, you give your negotiators the strongest hand possible.

Hit the nail on the head apart from point 4, specifically the bit I have underlined. Monthly/4 weekly pay is an inevitability...most companies do that these days and as long as there is a mechanism to ease us from weekly to monthly then I'm ok with that change.

I just knew that the company were going to close the scheme, and all the 'consultation' statements were a load of guff. It doesn't seem to matter to them what the Union or the staff think...they will do what they want to anyway, and in these days they know that people are more concerned about simply having a job and will gladly take it hard from behind if it means keeping themselves in work with a regular income. Wage slaves coupled with all the power being possessed by companies has led us to a very dark place indeed, and unfortunately I can't see a strike achieving anything other than short term concessions.

They can shove the £800...I'm not gonna be bought out but I will go out...you bring the sausages, I'll grab the bacon and the rolls!

jetblack · Post by **jetblack** » 13 Apr 2017, 17:20

Its not 100% clear wether they have as yet rejected the CWU proposal. It doesn't seem to me that they have. I reckon there's a pretty good chance they will however.

A big push will be required by all those that understand the pension situation to explain TO THOSE IN THE CURRENT DC SCHEME what they have to gain from the CWU proposal.

We will need an emphatic affirmative vote for industrial action should the (perfectly reasonable and well thought through) CWU proposal be rejected outright.

This is the big one for me. Not quite on a par with privatisation - but now thats a given (short of a Labour Governemt renationalisation) this is the big one.

RMG proposals will mean a direct transference of wealth away from us to the City/Wall Street. And what used to be a decent job (and would still be a decent job for those coming up) will, once and for all, be laid to rest.

Its a f***ing disgrace.

This is our time to pull together and stand up for ourselves.

Look at it as an opportunity to prove to yourself/others what you are made of.