Anger at £3M Royal Mail UK chief's pension

The head of the sub-postmasters’ union yesterday criticised a Pounds 3m pension deal for John Roberts, former chief executive of Royal Mail. Mr Roberts, who retired in December, will get an annual payment of about Pounds 150,000, which the Royal Mail will account for as worth about Pounds 3m.

After a career of 35 years with the postal group, his final years were overshadowed by mounting losses and a failed name change to Consignia.

Colin Baker, general secretary of the National Federation of Subpost- masters, said: “Is this a just reward for long service or is it, as we’ve seen in other industries, a considerable amount of money for somebody who has presided over an industry in decline?” Royal Mail said Mr Roberts was entitled to two-thirds of his final salary.