RMtv Special

In next week’s RMtv  Special, we’re at Mount Pleasant mail centre where Pensions Minister Guy Opperman MP will be talking about the work he and the Government are doing to enable Collective Defined Contribution (CDC) pensions.

The minister, who has launched an industry consultation on CDC, joins our chief governance and risk officer, Jon Millidge and the CWU’s deputy general secretary postal, Terry Pullinger, to answer colleague’s questions following the Government announcement that it plans to legislate for CDC pensions.

The Pensions Minister said: ‘CDC pension schemes are an important innovation, which will provide more choice and flexibility for pension scheme members and employers. I’m grateful to Royal Mail and the CWU for their assistance in getting us to this point.

‘I cannot think of an example of where a union and a business have worked so closely together. And it's to everybody's credit that you have sat down and hammered out a way forward, which is in the interests of all colleagues.’

Jon said: ‘It's very, very exciting for us that we have got this consultation now launched. It was over a year ago when we first started talking with the CWU about pension changes, but this time a year ago, Terry and I were sat in a mediation process.

‘What came out of that mediation process and that discussion, was that we wanted a pension scheme that was fit for the future, that was going to be resilient, that was going to be long-lasting and that was going to make sure that you got the best possible pensions that we could afford.’

Terry added:  ‘We very much welcome this significant milestone announced by the Minister. This is about introducing a tangible solution for 141,000 decent working people that provides genuine hope for an occupational wage in retirement pension running alongside their state pension.’