VIDEO : RMtv Special 9 May - What our proposal means for you

[POSTMAN]

[daveyeff]

same shite as the rest of the stuff they've sent out. different format. trying to brainwash people with their garbage.

[daveyeff]

they'll just keep repeating themselves over and over again as well till its too late and we are at the gate.

[TheTrolleyMan]

Bulls**te

[mark.cup]

This bloke is proper annoying! Saying the same sh#t over and over....

Why don't they give us another case study showing someone 40 years old with 20 years service that's the bulk of my office and we don't earn 25k in fact pensionable pay is less than 20k I think?

All smoke and mirrors to hide the fact we are being done over big time again

[k979aaa]

Who the f**k is Peter Tilley is he some kind of actor does this guy even work in a loose sense of the word for royalmail and why is this man giving me advice on my pension has he got accreditation from the FCA http://www.fca.org.uk" onclick="window.open(this.href);return false; Well we will see this guy comes across as a slick salesman for our futures but at what cost to us and our pensions?

[RobertT]

Who the f**k is Peter Tilley is he some kind of actor does this guy even work in a loose sense of the word for royalmail and why is this man giving me advice on my pension has he got accreditation from the FCA http://www.fca.org.uk" onclick="window.open(this.href);return false; Well we will see this guy comes across as a slick salesman for our futures but at what cost to us and our pensions?

He's the Head of Corporate PR. Or to put it another way he's just saying what he's told to say, just like everyone else on RMTV.

http://www.royalmailgroup.com/financial ... a-contacts" onclick="window.open(this.href);return false;

[k979aaa]

If you go on linkedin https://uk.linkedin.com/in/petertilley" onclick="window.open(this.href);return false;
London, United Kingdom - ‎Head of Corporate Communications at Royal Mail - ‎Royal Mail
Head of Corporate Communications at Royal Mail. ... Head of Corporate Communications. ... Head of Communications, HSBC UK. So its a bit like asking Joseph Goebbels if the third rich is a good thing for you or your family or anyone his own ambitions will only be replicated by Adolph Hitler like people maybe if we swear allegiance they would honour our last agreement sadly I don't think it would happen!

[charli67]

can anyone explain to me where they get this lump sum of £81,000? i will be 51 next year with 32 years service and earn roughly £25k, yet my latest pension statement says my lump sum is £27,000. a bit less than £81k!

[RobertT]

can anyone explain to me where they get this lump sum of £81,000? i will be 51 next year with 32 years service and earn roughly £25k, yet my latest pension statement says my lump sum is £27,000. a bit less than £81k!

The examples given are just that – examples! There is no indication that you will definitely get the amounts shown.

We have yet to be given any firm information on how this Cash Balance scheme is going to work in practice. But my understanding is that the ‘cash balance’ will be a lump sum on top of what you’ve already accrued by 31st March 2018 – it will not be on top of your ‘expected pension at 65’ figures on your statement!

You will be building up a certain amount of money each year based on yours and RM’s contributions – they are proposing a 6% employee rate and 12.6% employer rate. That is pensionable pay, so it won’t include overtime or some allowances and section C members will still have the Lower Earnings Deduction(£3,328) taken off.

They are also assuming a percentage growth rate each year of 2% above CPI inflation. Which based on the latest CPI figures(April 2017) would be a total of 4.6% growth per year. But whether that’s achieved will depend on where the money is invested.

So I would assume the only amount that’s actually guaranteed would be the sum total of both employee and employer contributions? But as the proposal is that the CB idea is going to be part of the RMPP rather than a standalone scheme, there could be a set retirement age and so reductions for taking it early?

So until we’re told any different we can only really speculate how the Cash Balance scheme will work.

*We will be given the opportunity to join the DC scheme instead, if we want to. All the details of that are in the big red book we all received.

[Rommagic]

We worth more then 12.6% from the Royal Mail per week into our pensions,what's to say they review it again in a few years time like 2021.

[nataddick]

I agree with Robert it is impossible, based on the scant information provided by RM so far, to draw any meaningful conclusions from a single, specifically chosen example, used in the propaganda being touted by the Corporate Spin machine.

I am extremely disappointed that the CWU and their appointed pensions advisors, First Actuarial, have so far not responded to RM's counter proposal.

[TheTrolleyMan]

Can we have a pension proposal based on my 21k pensionable pay