Royal Mail has for some time been reviewing the future of its pension plan with its unions, CWU and Unite/CMA, as part of the 2018 Pension Review. As part of this review, Royal Mail has today launched a consultation involving the approximately 90,000 members of its Defined Benefit pension plan, the Royal Mail Pension Plan (‘the Plan’).
We know how important pension benefits are to our colleagues. We are very sorry we had to write to Plan members in June 2016, as part of the 2018 Pension Review, to say that we believe the current Plan will soon not be affordable. We are committed to not making any changes before April 2018, subject to certain conditions we told colleagues about in 2013.
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