Royal Mail managers have voted to reject the company's proposed pension changes.
Unite, the postal firm’s union, said 85pc of managers who voted rejected the proposals – which would extend the retirement age from 60 to 65, close the scheme to new entrants and recalculate pension payouts...
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter