Apr 13, 2017
Royal Mail faces strike threat after pension closure
Royal Mail is facing the threat of industrial action following its decision to close its defined benefit pension scheme, affecting 90,000 members. Royal Mail currently pays about £400m a year into the pension pot, but says that could more than double to above £1bn if no changes are made. "Although Royal Mail's own consultation exercise revealed massive opposition to its closure plan, the company has decided to ignore the views of its workforce and proceed with closure without consent," said Ray Ellis, acting deputy general secretary. Royal Mail said "Only a very small percentage" of employees would see this level of reduction in their pensions. The company added: "Customers choose Royal Mail because they trust us to deliver. Any industrial action - or threat of it - undermines this trust between Royal Mail and our customers, and we could lose business as a result."
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