Royal Mail has offered its employees a cash balance defined benefit (DB) scheme as a compromise for closing its current career average DB scheme to accrual.
Royal Mail will close its career average defined benefit (DB) scheme to future accrual from April next year, it has announced.
A union proposal for Royal Mail to create a risk sharing scheme has brought back the idea of defined ambition. Stephanie Baxter looks at how it would work and if it could set a blueprint for others
This week's top stories include coverage of a proposal to merge Royal Mail defined benefit and defined contribution members into a risk-sharing scheme.
The Communication Workers Union (CWU) is calling on Royal Mail to merge its defined benefit (DB) and defined contribution (DC) members into a risk sharing pension scheme.
Members of the BT Pension Scheme (BTPS) will have their defined benefit (DB) pensions protected following the separation of the Openreach business.
Royal Mail has started a formal consultation process on closing its "unaffordable" defined benefit (DB) scheme to future accrual from April 2018.
The Post Office has moved a step closer to shutting its defined benefit (DB) scheme to future accrual in March 2017.
Post Office employees are set to strike next week over the planned closure of its defined benefit (DB) scheme and branches.
The Communication Workers Union (CWU) has attacked plans from the Post Office to close its defined benefit (DB) scheme to future accrual on 31 August.