Postal workers' fury over pensions 'stitch'up'

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A leaked 24-page document shows how Royal Mail plans to tackle a £6 billion shortfall in the pension fund.

Under the shake-up the final salary pension scheme could be closed to new members from next year and the age at which staff can retire with a full pension will be raised from 60 to 65 in 2010.

Union leaders vowed to fight the proposals, which would affect workers at Royal Mail, Post Office and Parcelforce Worldwide.

Dave Ward, deputy general secretary of the Communication Workers Union, told the Mirror the plan was a "stitch up".

He said: "This is a savage attack on pay and conditions. Our members aren't going to roll over and accept this.

"It will only galvanise support for strike action. It's a stitch up. They may say they're consulting but that's a charade.

"It's clear from the work in producing these plans that they're determined to drive them through."

The leaked document, seen by the Daily Mirror, stresses no formal decision has been made and the proposals are designed to form a consultation basis.

According to the newspaper, the document says: "These changes would gradually reduce the Royal Mail's overall pension costs and therefore reduce the future risk to our business, jobs and existing pensions."

Future rises in pensionable pay for the company's 167,000 workers would be capped at the inflation rate and lump sum payments on retirement would also be hit.

A Royal Mail spokesman said no decision has been made on the future of the pension scheme.

He said: "Royal Mail said very clearly earlier this year that it would be consulting on the future of the pension scheme for both new recruits and existing members but no decisions have yet been taken as we have not even begun the formal consultation."