Tag: Royal Mail

Post Office launches new Fiveyear Saver

Posted by | Apr 28, 2008 | |

The Post Office announced the sixth issue of its Fiveyear Saver – a no risk, fixed-term deposit bond – which guarantees returns over a five year period with the benefit of further growth potential linked to the FTSE 100-Index.

The Fiveyear Saver offers a dual investment system, which is ideal for investors made cautious by the recent stock market jitters. As a result customers who take advantage of this great offer – which is open from 28th April 2008 and closes on 28th June 2008 – will see their money managed in two ways:

– Half of their deposit earns a very competitive 5.5 per cent gross/AER per annum for the five year fixed term period
– The other half benefits from a 50 per cent return on any increase in the FTSE-100 Index over the five year period. Customers’ original deposits are guaranteed should the FTSE-100 Index fall.

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CWU – Fight Back Over Royal Mail Pension

Posted by | Apr 27, 2008 | |

Following a meeting with senior field officials, the Communication Workers Union is to begin a campaign on the 5th May to highlight what it sees as government and Royal Mail policy failures and the effect that these policies have had on postal worker pensions.

The pension fund currenly has a deficit of around GBP 3.4bn, and Royal Mail plans to clear the deficit by paying into the fund over a period of up to 17 years as well as paying in an extra GBP 270 million this year, an amount it says, that will increase with inflation each year.

The normal retirement age is to be extended from age 60 to 65 with effect from 1 April 2010, pension calculations have now shifted from a Final Salary to a Career Salary Defined Benefit arrangement as of 1st April 2008, meaning that only pension earned in respect of service from 1 April 2008 would be affected by the change. Pension earned prior to this date will still be linked to final pensionable pay on the date the employee leaves or retires. The existing Pension Plan was closed to new members on 31 March 2008.

Two union ballots, one of Royal Mail managers conducted by the union ‘Unite’ and a subsequent ballot of workers, held by the CWU in March, showed an overwhelming rejection of the changes to pensions.

Although both the CWU and CMA/Unite had agreed that changes were needed, the CWU maintains that Royal Mail brought in the revised pension without final discussion with the union and employees and that Royal Mail had not fully explored a options put forward by the union. It now plans to put pressure on government to reverse changes to pensions by writing to and speaking with MPs and political bodies.

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New Start for Parcelforce (UK)

Posted by | Apr 24, 2008 | |

Parcelforce Worldwide is launching a communications campaign with design work by Start Creative, in an attempt to increase the number of businesses setting up Parcelforce accounts.

The designs will be used across all of its marketing collateral including posters, fliers, mail packs and on-line promotions.

Shirley Clancy brand and campaign manager at Parcelforce says half a million packs designed by the London consultancy are being sent out in a mail campaign which targets the business market and is set to run from April through to June.

She continues that the designs are based around the notion of ‘we give you the world’ and include a branded wall map.

Start was appointed to work on the campaign in March after the consultancy took part in a three-way pitch.

The consultancy has an existing relationship with Royal Mail.

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Royal Mail delivers changes (UK)

Posted by | Apr 24, 2008 | |

Royal Mail has reskilled half its IT department and retooled its 10-year outsourcing deal with supplier CSC to get a stronger focus on software development.

Central to the postal service’s GBP 1.2bn change agenda is the rollout of a Siemens-supplied automatic mail sorting system scheduled to go live at its mail centres and delivery offices in September.

The platform is the backbone of Royal Mail’s service overhaul, which will be followed by a number of customer-focused initiatives such as minute-by-minute parcel and letter-tracking, and projects aimed at internal optimisation, such as telemetry and scheduling of staff, trucks and aircraft.

To support the demand prompted by the service overhaul and the legacy systems yet to be replaced, chief information officer Robin Dargue launched a business capability review which shed almost half the 300-strong permanent IT workforce but created about 100 new core IT roles.

Royal Mail is five years into its 10-year outsourcing contract with CSC, which was reviewed late last year in relation to “monies Royal Mail wanted to pay for extra services and some services that were no longer required”.

Earlier this year, Computing revealed Royal Mail was tendering for up to GBP 40m-worth of consultancy contracts to support its outsourcing deal with CSC. The move was triggered by “simpler consultancy framework agreements”, expected to reduce project timelines.

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Post office launches new Fiveyear Saver

Posted by | Apr 22, 2008 | |

The Post Office today announces the fifth issue of its Fiveyear Saver – a no risk, fixed-term deposit bond – which guarantees returns over a five year period with the benefit of further growth potential linked to the FTSE 100-Index.

The Fiveyear Saver offers a dual investment system, which is ideal for investors made cautious by the recent stock market jitters. As a result customers who take advantage of this great offer – which is open now and closes on 11 January 2008 – will see their money managed in two ways:

– Half of their deposit earns a very competitive 7.5 per cent gross/AER per annum for the five year fixed term period
– The other half benefits from a 50 per cent return on any increase in the FTSE-100 Index over the five year period. Customers’ original deposits are guaranteed should the FTSE-100 Index fall.

Post Office director of savings and investments Richard Norman said: “Although many investors are seeking to benefit from gains in the stock market, they also want a guarantee that they won’t lose their money. This is why we are pleased to announce the launch of a new five year savings bond – with an even better rate of interest.”

“Post Office Fiveyear Saver is a secure investment which gives a guaranteed return, while still offering the growth potential of the FTSE-100 Index. There is no risk of losing your original deposit and you can invest from just GBP 500.”

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