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DBCBS

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.
freespeech
MDEC
Posts: 762
Joined: 28 Jun 2007, 16:35

DBCBS

Post by freespeech »

Given we started building a lump sum via the DBCBS in 2018 we are soon to have over 4 years of contributions to it. My total significantly exceeds my NRA65 maximum lump sum which is what I thought the LS was planned to pay? Will any of it be available towards the NRA60 LS or will it be taxable if it exceeds the max NRA65 lump sum allowed? It seems wrong if it's taxable when it could be used to reduce tax overall.
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vmaxv4
Posts: 260
Joined: 09 Oct 2012, 10:49
Gender: Male

Re: DBCBS

Post by vmaxv4 »

freespeech wrote: ↑
21 Feb 2022, 18:08
 Given we started building a lump sum via the DBCBS in 2018 we are soon to have over 4 years of contributions to it. My total significantly exceeds my NRA65 maximum lump sum which is what I thought the LS was planned to pay? Will any of it be available towards the NRA60 LS or will it be taxable if it exceeds the max NRA65 lump sum allowed? It seems wrong if it's taxable when it could be used to reduce tax overall.
When I took my NRA60 the DBCBS was only just starting & therefore unavailable for me at the time.
However colleagues of mine recently taking there NRA60 at 60 were given the option to take a certain amount of the DBCBS contributions towards there NRA60.
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freespeech
MDEC
Posts: 762
Joined: 28 Jun 2007, 16:35

Re: DBCBS

Post by freespeech »

Thanks....that's good to hear.
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NWpostie
Posts: 3602
Joined: 04 Aug 2007, 17:32
Gender: Male
Location: Sector 001 Borg Collective, 6 o f 9

Re: DBCBS

Post by NWpostie »

The DBCBS goes toward the lump sum when taking age 60 benefit ?
Six of Nine loves Seven of Nine, together in Electric Dreams.
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RobertT
EX ROYAL MAIL
Posts: 6645
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: DBCBS

Post by RobertT »

freespeech wrote: ↑
21 Feb 2022, 18:08
 Given we started building a lump sum via the DBCBS in 2018 we are soon to have over 4 years of contributions to it. My total significantly exceeds my NRA65 maximum lump sum which is what I thought the LS was planned to pay? Will any of it be available towards the NRA60 LS or will it be taxable if it exceeds the max NRA65 lump sum allowed? It seems wrong if it's taxable when it could be used to reduce tax overall.
You asked the same question 10 days ago:

viewtopic.php?f=27&t=103674

The answer is also the same! :d'oh!
Links to all RM pension related websites are here
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