The UK government's plan to sell of the state-owned postal operator, Royal Mail, cleared its last Parliamentary hurdle yesterday, meaning the sale of as much as 90% of the company's £26bn of pension assets is now set to go ahead.

Royal Mail operates the UK's third-biggest pension fund, and its absorption onto the national balance sheet is a crucial part of the government's plan to privatise the post operator. Yesterday's passage of the Postal Services Bill clears the route for a sale of up to 90% of its shares.