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Royal Mail pension windfall

George Osborne will use a £28 billion windfall from the transfer to the state of Royal Mail pensions to reduce the deficit and not to pay for major projects, the Treasury said.

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Union welcomes Royal Mail pension transfer

News the pension transfer could happen within weeks was welcomed by the Communications Workers Union (CWU) which has campaigned for several years for the state to take over the pension.

This will protect the pensions of postal workers who have faithfully paid contributions for decades.

We've consistently argued that the Government has a moral obligation to take on the pension deficit, partly as owner of the company and for allowing Royal Mail to take a 13-year contributions holiday.

They laughed in our face when we suggested it so it's been a long journey getting here."

– CWU spokeswoman.
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Royal Mail pension windfall

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