Australia Post could be given the OK to end the everyday delivery of standard mail and introduce a two-tiered pricing system as early as year’s end, under reforms being considered by Communications Minister Malcolm Turnbull.

Mr Turnbull is expected to present a rescue package for Australia Post, including three-day-a-week delivery for standard mail, to federal cabinet within months.

Mr Turnbull is also actively considering allowing the company to introduce a two-tiered pricing system, similar to Britain’s second-class mail service, for non-urgent letter deliveries. Customers wanting speedier letter delivery would pay more than the standard rate.

Safeguards for disadvantaged Australians, including pensioners, would be included in the reform package.

Read more: Australia Post deliveries could be reduced to three a week by end of year.