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Contributions increase ?

14 Apr 2018, 08:38

Any ideas on the following statement on pay slip 01/2019.
"Following RMPP changes in April 14 pensionable pay and contributions for applicable members will increase by up to 3.9% on 1st of April 18 (Sept 17 RPI increases).
I'm an MGV driver have not taken any pension with an increase of £19.36 wk.


Contributions increase ?

14 Apr 2018, 11:07

You’d have got RPI increases in your pension payments in 2014, 2015, 2016 and 2017 too.

Basically our pensions were de-linked from our wages in April 2014 and they have been going up with RPI each year since.

We all got one of those big red booklets explaining it all at the time. More info is available here.

Contributions increase ?

14 Apr 2018, 12:45

Cheers.RT

17 Apr 2018, 19:48

RobertT wrote:You’d have got RPI increases in your pension payments in 2014, 2015, 2016 and 2017 too.

Basically our pensions were de-linked from our wages in April 2014 and they have been going up with RPI each year since.

We all got one of those big red booklets explaining it all at the time. More info is available here.

got a letter from zurich today stating the closing valuation of my dc fund. what would be the best option on this moving forward rob

18 Apr 2018, 04:43

collierrow wrote:got a letter from zurich today stating the closing valuation of my dc fund. what would be the best option on this moving forward rob

You’ve got two choices:

1. Leave it where it is.
2. Transfer it to another pension arrangement such as a SIPP or personal pension, where you would be able to continue paying in.

Factors to think about are investment performance and charges, but you won’t be able to access the money until you’re at least 55.

You can’t transfer it into any other RM pension scheme.

Contributions increase ?

18 Apr 2018, 18:42

thanks rob great advice as usual from the pension expert

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