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| Version 0 | Version 1 |
|---|---|
| Postman speaks of pension woes | Postman speaks of pension woes |
| (40 minutes later) | |
| By Callum May BBC News | By Callum May BBC News |
| Postal workers have been protesting in Westminster over the plans | |
| Postal workers have staged a demonstration in Westminster to voice their anger about the government's plans to sell part of its stake in Royal Mail. | Postal workers have staged a demonstration in Westminster to voice their anger about the government's plans to sell part of its stake in Royal Mail. |
| But trustees of the company's pension fund are warning of devastating consequences, unless the sale goes ahead. | But trustees of the company's pension fund are warning of devastating consequences, unless the sale goes ahead. |
| So what will happen to the post men and women who are about to retire? | So what will happen to the post men and women who are about to retire? |
| In two weeks, Sean Tait will complete his 35th year of service as a postman. Since the age of 20 he has worked for the Royal Mail in Folkestone, Kent. | In two weeks, Sean Tait will complete his 35th year of service as a postman. Since the age of 20 he has worked for the Royal Mail in Folkestone, Kent. |
| "When I joined, everybody said 'You're in a job for life'," he said as dozens of his colleagues climbed down from the coaches delivering them to the protest. "The pension was almost incomparable to other peoples'." | "When I joined, everybody said 'You're in a job for life'," he said as dozens of his colleagues climbed down from the coaches delivering them to the protest. "The pension was almost incomparable to other peoples'." |
| But he said he would not advise young people to begin a career delivering and sorting mail. | But he said he would not advise young people to begin a career delivering and sorting mail. |
| "The whole business is totally insecure now. The younger you are, the more changes affect you," he said. | "The whole business is totally insecure now. The younger you are, the more changes affect you," he said. |
| Financial setback | Financial setback |
| But at 55, the changes haven't even escaped Mr Tait. Royal Mail's final salary pension scheme ended in April 2008, and while the contributions he has already made are safe, he's already suffered a financial setback. | But at 55, the changes haven't even escaped Mr Tait. Royal Mail's final salary pension scheme ended in April 2008, and while the contributions he has already made are safe, he's already suffered a financial setback. |
| "To get what I would have got at the age of 60 I'm going to have to work into my 61st or 62nd year, and changes planned for the future could mean I've got to work even longer." | "To get what I would have got at the age of 60 I'm going to have to work into my 61st or 62nd year, and changes planned for the future could mean I've got to work even longer." |
| He says Monday's warning about the health of Royal Mail pensions made the outlook even worse. "Potentially to get the same pension, I might even have to work past 65." | He says Monday's warning about the health of Royal Mail pensions made the outlook even worse. "Potentially to get the same pension, I might even have to work past 65." |
| He disagrees with the claim the government's efforts to part-privatise the Royal Mail are the best hope of preserving the pension scheme, saying instead that taxpayers' money should be used to under-write the problems with the pension scheme. | He disagrees with the claim the government's efforts to part-privatise the Royal Mail are the best hope of preserving the pension scheme, saying instead that taxpayers' money should be used to under-write the problems with the pension scheme. |
| "That would free up the money that the business is currently paying into it, in excess of what it would normally pay," he says. | "That would free up the money that the business is currently paying into it, in excess of what it would normally pay," he says. |
| The postal industry is heavily unionised, and Mr Tait began representing fellow Communication Workers Union members after a year at work. | The postal industry is heavily unionised, and Mr Tait began representing fellow Communication Workers Union members after a year at work. |
| He's now a divisional representative, covering Kent, Sussex and Surrey. | He's now a divisional representative, covering Kent, Sussex and Surrey. |
| The union blames its members' pension woes on Royal Mail's efforts to save the taxpayer some money. | The union blames its members' pension woes on Royal Mail's efforts to save the taxpayer some money. |
| "Royal Mail took a substantial pensions holiday throughout the 1990s and into the early part of this century. During that time they were paying substantial amounts of money direct to the government," Mr Tait says. | "Royal Mail took a substantial pensions holiday throughout the 1990s and into the early part of this century. During that time they were paying substantial amounts of money direct to the government," Mr Tait says. |
| "We've actually been assisting people to pay less tax in the past, and that pension holiday is a major contribution to the problems we've now got. | "We've actually been assisting people to pay less tax in the past, and that pension holiday is a major contribution to the problems we've now got. |
| "The taxpayer gained as a result of that, and now we need something back from them." | "The taxpayer gained as a result of that, and now we need something back from them." |