Latest news on closing Post Office pension fund

[andysweats]

11 October 2016
Trustee decision on Post Office proposal
This update relates ONLY to members of the Plan employed by Post Office Limited

The Trustee Board met today to consider a proposal from your employer – Post Office Ltd – to close its section of the Royal Mail Pension Plan (the Plan) with effect from 31 March 2017. This followed the consultation it held with employees and unions earlier this year. This update is to inform you that the Board decided to take the difficult decision to agree to that proposal. We have informed the Post Office and the staff unions of that decision today.

We will write to Plan members in the POL section shortly to explain in a little more detail the steps we followed, with the support of our own independent advisers, in order to reach this difficult decision. In the meantime, nothing will change and your Plan benefits are secure and will continue to build up as before until 31 March 2017.