Trade union Unite said some of its 6,000 members employed as managers faced cuts of almost £5,000 a year when they retired, under moves to “fatten up” the Royal Mail for privatisation.
A postman or postwoman who has gained promotion to become a manager in a delivery office stands to lose £97,760 in pension payouts if they retire at 65 and live until they are 85 years old, said Unite.
The consultative ballot on whether managers support the pension changes and privatisation runs from today to 16 August.
Unite official Brian Scott said: “The views of hard-working staff who have made Royal Mail the success it is today are being ridden roughshod over. It is no coincidence that the company is putting forward proposals to cut pensions ahead of the sell-off.“
Royal Mail said it was disappointed with Unite’s decision to hold a consultative ballot, adding that its proposal on pensions would be necessary, irrespective of whether the company is sold or not.