How many different pensions?

[hazzeem025]

I've been paying into whatever pension plans Royal Mail has had active since 1993. Can anyone help me out with understanding who exactly is in charge of these pensions nowadays?

I know I was in the final salary one from 1993 until it closed......but who runs it and when do you get a statement?

Who runs the other pensions that have run since the final salary one closed? I know there was the one where you accrued blocks but who is in charge of that and when do you get a statement for it?

Was there another one after that? That ran until the new one opened last year? People keep mentioning Scottish Widows but I'm sure I've never received any statement off them?

I literally can't keep up with it all. I'd just like to make sure that my pension is where it should be!

Thanks for any help.

[RobertT]

Assuming you haven't opted out of any schemes along the way, since 1993 you will have pensions as follows:

Upto 2012 is with the RMSPS(upto 2008 is final salary/2008-2012 is average salary).
2012-2024 is with the RMPP(2012-2018 is average salary/2018-2024 is cash balance).
2024+ is the RMCPP which is a Collective Defined Contribution scheme, or Nest.

Any AVC's you made will be with Scottish Widows.

You should have been receiving statements every year off all of them!

Anyone joining RM after April 2008 won't have any final or average salary benefits.
But depending on their choices they may have:

RMDCP(2008-2024) with Scottish Widows
Cash Balance via the RMPP(2018-2024)
RMCPP or Nest(2024+)

The CWU have produced a useful series of booklets that might help you understand things better.
Plus all schemes have their own website giving lots of info.
See my link below. v

[hazzeem025]

Thank you Robert. I could never understand people mentioning Scottish Widows......now I know!!! Much appreciated