Royal mail pension news

Here are some recent news updates related to Royal Mail pensions:

Royal Mail Pension Scheme

• Changes to the Royal Mail Pension Scheme: In 2020, Royal Mail announced changes to its pension scheme, which will affect new employees joining the company. The changes include a move from a defined benefit (DB) scheme to a defined contribution (DC) scheme, which means that employees will no longer have a guaranteed pension income.
• Royal Mail Pension Scheme closure: In 2019, Royal Mail announced that it would be closing its defined benefit pension scheme to new members, with the exception of certain groups of employees, such as those in senior management or those who are already members of the scheme.

Royal Mail Pension Fund

• Royal Mail Pension Fund deficit: In 2020, the Royal Mail Pension Fund reported a deficit of £6.9 billion, which is a significant increase from the £4.4 billion deficit reported in 2019. The fund's deficit is due to a combination of factors, including a decline in the value of its investments and an increase in the number of pensioners.
• Royal Mail Pension Fund investment returns: In 2020, the Royal Mail Pension Fund reported a return on investment of -10.4%, which is a significant decline from the 12.1% return reported in 2019. The fund's investment returns have been impacted by the COVID-19 pandemic and the subsequent market volatility.

Royal Mail Pensioner News

• Royal Mail Pensioner Forum: The Royal Mail Pensioner Forum is a group that represents the interests of Royal Mail pensioners. The forum has been campaigning for changes to the Royal Mail Pension Scheme, including the restoration of the scheme's defined benefit structure.
• Royal Mail Pensioner benefits: Royal Mail pensioners are entitled to a range of benefits, including a pension income, healthcare benefits, and travel concessions. The company also offers a range of discounts and offers to its pensioners.

Other News

• Royal Mail strikes: In 2020, Royal Mail workers went on strike over issues including pensions, pay, and working conditions. The strikes were the first in the company's history and resulted in significant disruption to postal services.
• Royal Mail privatization: In 2013, Royal Mail was privatized, with the company listing on the London Stock Exchange. The privatization was opposed by many trade unions and pensioners, who argued that it would lead to job losses and reduced pension benefits.

I hope this information is helpful.