Royal Mail workers vote in favour of pensions deal; paves way for CDC

Victoria Tichá
clock • 2 min read

Postal workers have voted strongly in favour of a deal that includes plans to set up the UK's first collective defined contribution (CDC) pensions scheme, during a Communication Workers Union (CWU) ballot on 28 March.

On 28 March, the union's members voted by a margin of nine to one in favour of the pensions, pay and working conditions package announced by Royal Mail in February, which also included an agreement...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

Longevity assumption update could save sponsors 'millions'

Longevity assumption update could save sponsors 'millions'

Hymans Robertson finds CMI model update could mean 3% reduction in liabilities

Jasmine Urquhart
clock 27 March 2024 • 2 min read
DB transfer activity falls to record lows in February

DB transfer activity falls to record lows in February

XPS finds transfer activity hit lowest levels since index’s inception in May 2018

Martin Richmond
clock 27 March 2024 • 1 min read
PIC posts 68% rise in new business premiums amid record year for BPA

PIC posts 68% rise in new business premiums amid record year for BPA

Specialist DB insurer wrote £6.9bn of new business premiums in 2023

Martin Richmond
clock 27 March 2024 • 3 min read
Trustpilot