Royal Mail is considering whether to close the company’s retirement scheme to existing members, forcing them to join a new pension pot with less lucrative benefits. Pension industry insiders believe such a move could spark widespread strikes at Royal Mail. More worrying for British industry, trouble will not be reserved to the postal service. Over the next few months companies are expected to highlight the scale of Britain’s pension crisis by revealing deficits on an unprecedented scale. Strikes and corporate failures could follow.
The Telegraph
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