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The Independent UK
The Independent UK
National
Susan Haigh

USPS announces another cut and stamp price increase amid funding crisis

Postal Service the Postal Service USPS David Steiner Donald Trump The Associated Press
The step to forgo the pension payments is meant to preserve cash and liquidity amid an ‘ongoing, severe financial crisis’ - (Getty Images)

The U.S. Postal Service is temporarily suspending employer contributions to Federal Employees Retirement System annuities, allowing it to keep making payroll, paying suppliers and delivering the mail.

The Postal Service also wants to increase postage rates, including raising the price of a First-Class Mail Forever stamp from 78 cents to 82 cents. USPS filed notice Friday with regulators, who still need to approve the changes.

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