UK Post Office pension chief leaves

UK – Dermot Courtier, the head of pensions and retirement provision at the Post Office, has left and been replaced on an interim basis by Tim Carney.

Post Office spokeswoman Christine Gregory confirmed the moves. Carney was previously in the Post Office’s pensions department, she added.

“There’s noting sinister at all” in Courtier’s departure, she said, adding that the Post Office, which is going through
radical change, has a 20% annual turnover of its approximately 200,000 staff.

Gregory added that the Post Office’s 15.6 billion pound (22.8 billion euro) pension fund is currently undergoing a “full actuarial evaluation”. She would not comment on the likely outcome of the review.

In December last year the Post Office said it would have to make an extra 330 million pounds of pension funding over the next two years due to market declines.

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