Royal Mail slashes scheme deficit by £3.5bn despite heavy losses

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The Royal Mail has cut its pension scheme deficit by 45% after a change in inflation assumptions, despite suffering losses of more than £49m last year.

In its annual report, published yesterday, the group said the deficit of its two schemes - due to be taken on by the tax payer in advance of the service's privatisation (PP Online, 14, October, 201...

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