Royal Mail is ramping up payments into its pension scheme in a bid to fill
its £5.6bn pension deficit black hole, according to reports.
An agreement with its pension trustees sees Royal Mail up its payments into
its pension scheme to £750m from £480m, paid annually for the next 17 years,
reported the Daily Telegraph.
It is not clear how the Royal Mail will fund it, with operating profits at
£355m last year. Cost-cutting measures have been suggested as a likely strategy
to help fund the pension deficit.
The Pensions Regulator has stated it wants companies to clear their pension
deficits over a ten-year period.
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
Does Darwin's theory apply to taxation? Colin ponders...
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group