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.
My plan is to save as much as I can in cash reserve, AVC, work pension and lump sum with aim of sustaining myself until SPA kicks in.
That's pretty much my plan too!
I decided a long time ago(25+ years) that I wanted to retire early and realised what I'll get from RM probably wouldn't be enough, so I knew then it was up to me to do something about it. Or else be forced to work longer than I want to.
Stage pension age will probably be 70+ for me and I have no intention of working until that age.
If I can't get my "benefits" before age 67 with the new scheme, then I won't be joining it.
There are currently no plans to raise state pension age past 68. Although some do want it increased and others argue that increases in life expectancy are stalling and a further rise isn't warranted.
It'll be possible to access CDC benefits at the legal minimum age, currently 55, just like any other pension.
*All current rules are always subject to possible changes at some point in the future.
He means it's an even later retirement age. Some will have 3 different pension ages, and that doesn't even include the State pension. That could be 4 different pension ages for some. What a disgrace. The CWU should be ashamed.
My pension timeline is exactly that!
1.NRA60 taken (Two separate payments each month)
2.NRA65 at 65 (A further two separate payments each month)
3.SPA at 66 Now happily retired
4.CDC at 67 (3yrs + No payments since retiring also Not reduced.
Straight forward eh!!
