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Left the business .Deferred pension can take upto 22 weeks?

Royal Mail pension news and discussion.Please note the advise given in this forum is unofficial, please use the links we have for a more detailed response or see an independent financial adviser.
chuzzwuzzer
Posts: 46
Joined: 08 Nov 2011, 15:07
Gender: Male

Left the business .Deferred pension can take upto 22 weeks?

Post by chuzzwuzzer »

I left the business a few weeks ago and thought I would request a pension forecast to possibly take some pension at 55. Phoned pensions and was told that as I have left the business I will have to wait for a deferred pension statement which can take upto 8 weeks and then if I was to take an early pension it could take a further 14 weeks. Does sound right to have wait a potential 22 weeks? Has anyone in a similar situation had the same timeframe?
Cheers.
RobertT
EX ROYAL MAIL
Posts: 6415
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: Left the business .Deferred pension can take upto 22 weeks?

Post by RobertT »

I haven't taken any of my RM pension, but after consulting the RMPP about another matter, I was told it takes around a month for them to 'start the process of making you deferred member'. Because they have to wait for the possibility of any outstanding wages to be paid, before they know what your final pay will be.

It's normal for the application process from first applying to actually receiving your pension, to take 3-4 months.

So the time frame you quote is probably about right, albeit a bit frustrating.
Links to all RM pension related websites are here
chuzzwuzzer
Posts: 46
Joined: 08 Nov 2011, 15:07
Gender: Male

Re: Left the business .Deferred pension can take upto 22 weeks?

Post by chuzzwuzzer »

Okay cheers Robert