CWU

The Communication Workers Union (CWU) has told Royal Mail it must make significant progress in resolving its pensions dispute by 6 September to avoid industrial action.

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 has offered its employees a cash balance defined benefit (DB) scheme as a compromise for closing its current career average DB scheme to accrual.

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

This week's top stories include coverage of a proposal to merge Royal Mail defined benefit and defined contribution members into a risk-sharing scheme.

Members of the BT Pension Scheme (BTPS) will have their defined benefit (DB) pensions protected following the separation of the Openreach business.

Royal Mail has started a formal consultation process on closing its "unaffordable" defined benefit (DB) scheme to future accrual from April 2018.

Post Office employees are set to strike next week over the planned closure of its defined benefit (DB) scheme and branches.

O2 is set to close its final salary defined benefit scheme to future accrual due to poor economic conditions and the impending cost of auto-enrolment.

Members of mobile phone firm O2's final salary scheme have avoided the scheme closing by voting to increase their contributions from 6% to 10%.