What has the union ever done for me !!

[RobertT]

Robert t.
I assume that members will have the opprtunity to transfer the benefits of these new schemes at retirement to something like a retirement annuity which will provide a guaranteed income in retirement. I appreciate that it would depend on annuity rates at the time as to whether this may be a better route to take or not, and of course the rates of inflation and predictions of these over the following 20 years or so.

We don't know exactly how things will work, due to the legislation not being in place yet. But the plans are that your CDC benefits will have a value which you can transfer to an individual DC scheme for annuity purchase or drawdown.

More in depth info on how the CDC is anticipated to work can be found here: https://www.royalmailgroup.com/media/10 ... ooklet.pdf" onclick="window.open(this.href);return false;

[Celgar]

RM like the CDC option because it removes much of the risk and financial responsibility from their hands. It's likely I won't reach retirement age but for those who will this could be somewhat of a problem.