Canada Post changes: What you need to know

Canada Post announced this morning that it will phaseout door-to-door home delivery in urban centres over the next five years.

Instead, Canadians will get their mail from communityboxes.

• Canada Post to phase out urban home mail delivery
• How will Canada Post ending home mail delivery affect you?

The change is one of five that the Crown corporation will implement in the face ofmounting financial losses, including raising the price of postage.

Here's what you need to know about the plan:

Cost

• Stamps will go from 63 cents, when bought in a pack, to 85 cents.
• Individual stamps willcost $1.
• Changes go into effect March 31.

When?

• Plan to be implemented over the next five years.
• First neighbourhoods to go to community mailboxes willbe announced in late 2014.

Who does it affect?

• According to Canada Post, 5,094,694 Canadiansget door-to-door delivery.
• Already3,804,574 Canadians usegroup mail boxes.
• The Crown corporation says it expects to eliminate 6,000 to 8,000 positions by 2018, though says it will be mostly through attrition.

The business of mail

• Canada Post says in first three quarters, revenue dropped $20 million this year over last.
• Without change, Canada Post projects $1 billiondeficit by 2020.
• Canada Post says the changes will saveup to $900 milliona year.
• The corporationsays the average cost to deliver mail door-to-door per address is $269, while the averagecost per box is $117.