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Good or bad

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.
postieblueshirt
Posts: 1241
Joined: 01 Oct 2019, 22:05
Gender: Male

Good or bad

Post by postieblueshirt »

Been in royal mail since April 1995 and started the pension ASAP so just a simple question am in the good pension or not so good or bad lol I have no idea...
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RobertT
EX ROYAL MAIL
Posts: 6645
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: Good or bad

Post by RobertT »

You'll be in section C, which isn't as good as Section B which closed to new starters in 1987, but it's better than the RM Defined Contribution Plan, which replaced Section C for new starters in 2008.

You'll currently have about 13 years worth of final salary(1995-2008), 10 years of average salary(2008-2018) and 4 years of DBCBS(2018-2022).
*Any part time working will mean accruing pensionable service on a pro rata basis.

Your NRA60 benefits relate to everything accrued up to 2010, while your NRA65 is 2010 onwards.

For more info see the pension websites:

https://www.royalmailpensionplan.co.uk/
https://www.royalmailsps.co.uk/

*Current RM pension schemes will be replaced by the new CDC scheme in due course, probably towards the end of this year or early 2023.
Links to all RM pension related websites are here
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postieblueshirt
Posts: 1241
Joined: 01 Oct 2019, 22:05
Gender: Male

Re: Good or bad

Post by postieblueshirt »

Thankyou for that explanation it's much appreciated.
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