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Royal Mail PensionsThe European Commission has granted Royal Mail State Aid to take on the Royal Mail pension deficit. A Government-led pension solution will now be implemented on the 1st April 2012. This is welcome news that the union was the first to campaign for. It means the Government will take over the historic pension's deficit currently valued at around £8.4 billion and they will be responsible for the payment of pension benefits built up before the 1st April 2012. A new company pension scheme will be run from 1st April for all current members of staff. Your contributions remain the same, your benefits are all safe and you don't have to take any action
You can download the CWU booklet 'Your Pension' and summary leaflet for more information on this issue.
If you have any queries, please contact: The Postal department on This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 020 8971 7211 or The Royal Mail Pension Service Centre in Chesterfield on This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 0114 241 4545 |
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Post Office funding welcome – let’s use it wisely, says CWU29th March 2012
But the union urges the Post Office to use the money "for investment and growth - not managed decline." Reacting to the announcement today, CWU general secretary Billy Hayes said: "Of course the EU decision is welcome, this money is equivalent to a doubling of the Post Office's annual Social Network Payment. "But let's hope the Post Office uses this cash positively, not negatively," he continued, adding: "If used wisely, this could help protect the network and reverse the decline of recent years. "At a time when the Post Office is cutting costs, downgrading the network and cutting services to the public, any new cash should be used to create new revenue streams, expand our product range and protect jobs."
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The Communication Workers Union has welcomed the European Commission's green light for £1.15 billion Government funding for the Post Office over the next three years.
CWU assistant secretary Andy Furey agreed, adding: "It's a great opportunity for a change of direction - let's stop wasting money on paying Postmasters to leave the business and on unpopular service downgrades such as the 'Locals' model currently being trialled."
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RE: Royal Mail Pension Plan: Indexation Branches will be aware that the Government has announced that, with effect from 2011, pension increase orders should use CPI rather than RPI to determine the level of increase in pensions in payment and deferred pensions. As well as those schemes directly controlled by the government, this decision has implications for other schemes including Royal Mail Pension Plans. Section C of the Royal Mail scheme (formally known as POPs and applying to those joining the scheme from 1987 onwards) is clear that uprating is linked to RPI (subject to a maximum of 5%). Sections A and B however allow for the increase to be linked to the government pension increase order. Until now, the government has always used RPI and therefore increases in pensions in payment and deferred pensions for members of these parts of the scheme have been based on RPI. The next uprating, due in April 2011, will be the first under which government’s pension increase order could be based on CPI. A change from RPI to CPI would, over a period of time, substantially reduce the value of our member’s pensions. This change would affect existing pensioners and also those with deferred pensions. It would not affect uprating of post 2008 pensionable pay under the career average arrangements introduced by the company in April of that year – the company had wanted to use CPI for this uprating but the union was successful in arguing for RPI. However active members would suffer a detriment once their pensions become payable. A change from RPI to CPI for some parts of the scheme would therefore produce a number of anomalies. More importantly it represents a massive threat to the value of pensions based on service already accrued for thousands of members in sections A and B of the scheme. The union has therefore met with Royal Mail and written to Royal Mail’s Chief Executive. We have made it...
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Cuts condemn poorest20th October 2010 Commenting on the Comprehensive Spending Review (CSR) announced by the Chancellor today (Wednesday) CWU says it will hit poorest in society hardest and leave parts of the UK struggling with high levels of unemployment.
"At CWU we're confused why the Chancellor included a promise on post offices in his address as there is no detail about how this funding would be provided. The network currently relies on £150 million annually from the government to keep rural and urban branches open, but with no detail this is an empty promise from Mr Osbourne." TUC General Secretary Brendan Barber said: "Right across government the Chancellor has announced eye-watering cuts that will have a desperate impact on communities, business and hard-pressed families. But he has not had the guts to spell out the detail, and instead tried to talk up a few crumbs of good news. "Worst of all, to score a cheap party political point about Labour spending plans, he has loaded cuts on to benefits and welfare payments. Those who have not had a minister fighting their corner but who are most vulnerable to cuts have lost the most today. The poorest have become the victims of a political jape. "But...
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Stamp rise sign of things to come, says CWUReacting to Postcomm’s announcement on price controls today (Monday) the CWU warns that this is a sign of things to come under privatisation and argues the universal service would not be at risk if regulation had been better managed. Billy Hayes, CWU general secretary, said: “This is an unpopular price rise but the public should realise this is a sign of things to come under a privatised Royal Mail. “The sad thing is that if regulation hadn’t failed the universal service obligation so completely we might not be in this mess. Over-zealous price controls and an obsession with preparing the British market for full-blown competition has destroyed Royal Mail’s market share and burdened the company with the full responsibility of the expensive final-mile network. “The government has in turn misinterpreted the financial problems at Royal Mail as one of inefficiency and settled on privatisation at any cost. “We’ve enjoyed the cheapest postal services in Europe for decades but regulatory mismanagement and competition – which is meant to deliver efficiencies and competitive pricing – is destroying the UK postal service as we know it. Unless the government changes its approach to privatisation we had better all get used to massive price hikes. 46 pence for a stamp will be nothing in comparison to what lies ahead.” CWU represents all non-managerial staff at Royal Mail Group and is opposed to privatisation of the company.
For more information please contact: Sian Jones, Press Officer, tel: 020 8971 7267, mobile: 0779 3314249, e-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it Kevin Slocombe, Head of Communications, mobile: 07714504413, e-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
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Cameron Appoints Health And Safety Criminal As Whitehall Axeman
Cost cutter Lord Browne is no stranger to controversy. He resigned as BP chairman in 2007 after being caught lying to a court. This controversy followed shortly after publication of an investigation report in to the explosion at BP’s Texas City refinery in 2005, killing 15 workers and injuring 170, one of the worst industrial accidents in US history. Theblast caused extensive damage to the refinery – BP’s largest – and left production crippled. BP were found to have a slapdash attitude towards safety. After the accident the US Occupational Safety and Health Administration (OSHA) found 301 safety violations relating to the explosion and hit BP with a $21-million fine – the largest in the agency’s history. More than 1700 lawsuits were launched and BP has set aside $1.6 billion for claims. The accident investigation team chair revealed that investigators were “absolutely terrified” by the poor safety culture at the refinery.
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CWU general
secretary Billy Hayes said: "Today the Tory
Chancellor has delivered a devastating body blow to all who rely on
public services. The cuts are too fast and too deep and seriously
risk sending the country back into recession. The volume of cuts
also threatens to leave parts of the country away from the south
east struggling with mass unemployment as public and private sector
jobs fall to Mr Osbourne's axe.
Controversial
former BP boss Lord Browne is to be appointed by Prime Minister
David Cameron as a Government ‘super director’ and his job will be
use to use Tesco tactics to bring ruthless business methods into
Whitehall departments in order to wield the axe and save billions
of pounds of taxpayers’ money. Lord Browne, has been asked by David
Cameron to lead a new team of entrepreneurs who will sit on the
boards of Government departments.|
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