New Delhi, April 10 -- The US Postal Service, which has been faced with mounting financial pressure in the recent months, on Thursday said it had informed federal budget officials that it will be suspending some payments to a governmentwide retirement fund.

The suspension of employer contributions to Federal Employees Retirement System annuities will help it keep making payroll, paying suppliers and delivering the mail, the USPS said.

The Postal Service additionally wants to increase the price of postage by 5% starting July 12, but the plan needs to be approved by the Postal Regulatory Commission, an independent agency that oversees the USPS. If approved, the price of a First-Class Mail Forever stamp will go up from 78 cents to 82 cents...