Royal Mail offers new pension deal in bid to stave off strike threat

Plans for the initial public offering risk being derailed by the Communication Workers Union, which opposes the sale and wants guarantees on pay, conditions and pensions, the Daily Mail reports. Royal Mail has scrapped a proposal to cap pensionable pay rises at the rate of inflation, up to a maximum of 5%. The CWU will ballot members shortly, with the result known on October 16. If workers vote for a strike it could take place on 23 October, the likely date of the IPO.