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Royal Mail to launch UK's first CDC plan in October
United Kingdom | Publication | July 2024
Royal Mail Group has confirmed that the Royal Mail Collective Pension Plan will launch as the UK’s first collective defined contribution plan on October 7, 2024. The new CDC passed the Regulator’s assessment process in 2023 and every employee with at least a year’s service will be eligible to join.
Employees will contribute 6 per cent of their pensionable pay each month into the collective pot, while Royal Mail will contribute 13.6 per cent. Benefits under the scheme include an automatic income for life and a cash lump sum.
The scheme will be run by an independent board of trustees, comprising professional pension trustees and individuals from Royal Mail, the Communication Workers Union (CWU) and Unite Communication Managers Association (CMA).
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Two US decisions find that reproducing works to train large language models is fair use – Part 1: Bartz v Anthropic
Two recent judgments – decided just days apart – from different judges of the Northern District of California District Court determined that using copyrighted books to train large language models (LLMs) was fair use.
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