Brian Scott

Unite members in the Royal Mail Pension Plan (RMPP) have narrowly rejected the company's proposal to set up a 'cash balance' scheme when the plan closes to accrual next year.

Royal Mail has finalised its proposal for its future pension provision ahead of closing its defined benefit (DB) scheme to existing members next year.

Royal Mail will close its career average defined benefit (DB) scheme to future accrual from April next year, it has announced.