RMPPS to Collective Pension??

[smf333]

Guy's can someone just tell me as simply as possible because I'm really, really, thick when it comes to pensions.

Right, the question is. Does all the money I've accumulated over my career (36 years) in the PMPPS (or whatever it's called) get added to the new pension scheme, or is that all now sitting in a bank somewhere gaining interest for RM?

I ask because a family member is retiring from the NHS next year and she found out recently that when her pension scheme was changed some time ago the money just sat gaining interest for the NHS when it could have been doing that for her. However, she was never made aware of this.

Do I need to contact someone to make sure all the money I've accumulated over the years comes to me and not the greedy twats at RM?

Thanks in advance,

Remember I'm thick!

[RobertT]

The NHS pension is an unfunded scheme which is paid for by the government / UK taxpayers, so there isn't a pot of money at all, let alone one that's gaining interest!

Your RM pension up to 2012(the RMSPS) is also unfunded in the same way.

Your RM pension from 2012-2018 and the DBCBS(2018-2024) comes under the RMPP and there's a big pot of money which will be used to pay all pensions.
There is a surplus in that scheme, some of which could go to RM at some point, but that won't affect the pension you're entitled to.

The new pension that's recently started is completely separate from everything beforehand and won't be transferred over. Considering your pension up to now has got normal retirement ages of 60& 65 and the new RMCPP's is 67, why would you want to anyway?

[smf333]

The NHS pension is an unfunded scheme which is paid for by the government / UK taxpayers, so there isn't a pot of money at all, let alone one that's gaining interest!

Your RM pension up to 2012(the RMSPS) is also unfunded in the same way.

Your RM pension from 2012-2018 and the DBCBS(2018-2024) comes under the RMPP and there's a big pot of money which will be used to pay all pensions.
There is a surplus in that scheme, some of which could go to RM at some point, but that won't affect the pension you're entitled to.

The new pension that's recently started is completely separate from everything beforehand and won't be transferred over. Considering your pension up to now has got normal retirement ages of 60& 65 and the new RMCPP's is 67, why would you want to anyway?

Thank's for that Robert, like I said I don't know anything about pensions and I just wanted to make sure RM wasn't pulling a fast one.