UK Pensions - Pension deficit sparks Royal Mail privatisation row

News

The spiralling deficit on the UK's postal provider Royal Mail's £28 billion pension scheme is accused of being used as a bargaining chip by the government in a bid to force through part privatisation.

The latest triennial valuation of the scheme's liabilities in 2006 found it was running a deficit of £3.4 billion. However, this had increased to £5.9 billion at the end of 2008, according to the Hooper Report into the future of Royal Mail published at that time.

A letter from the trustees' chairma

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