Pensionable pay cap boosts Royal Mail scheme surplus to £1.8bn

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The Royal Mail has seen its scheme surplus soar to more than £1.8bn after trustees agreed to break the link between salaries and pensionable pay.

In its half yearly report, the newly privatised service said it had reached an agreement with trustees of the Royal Mail Pension Plan (RMPP) to limit increases in pensionable pay to the retail pric...

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