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LTB 495/18 - Royal Mail Statutory Pension Scheme (RMSPS) - Change in Administration

31 Aug 2018, 14:20

LTB 495/18 - Royal Mail Statutory Pension Scheme (RMSPS) - Change in Administration

No. 495/18

31st August 2018



Dear Colleagues,

Royal Mail Statutory Pension Scheme (RMSPS) – Change in Administration

We are writing to alert Branches to forthcoming changes to the administration of the Royal Mail Statutory Pension Scheme (RMSPS). Essentially these changes revolve around the appointment by the Cabinet Office of Capita Employee Benefits Ltd (Capita) as the new service provider from 1st October 2018. As a result of this our members in the Royal Mail Pension Plan (RMPP) will be receiving directly from the Cabinet Office correspondence alerting them to these changes. Additionally the Trustee is also in the process of writing to scheme members regarding this matter. The key messages from the Trustee are:

”This change will have no impact on the value or security of your benefits”

“The benefits built up before April 2012 and held in the RMSPS continue to be underwritten by the government”

By way of background, in 2012 the Government took over responsibility for all pensions built up in the Royal Mail Pensions Plan (RMPP) and transferred them to the RMSPS. Royal Mail’s Pension Services Centre, now based in Sheffield, was appointed to administer the scheme. However, following a procurement exercise run by the Cabinet Office last year, responsibility for administering the RMSPS will be transferred to Capita (the successful bidder) on 1st October 2018. Responsibility for administering the separate RMPP scheme (covering pension benefits accrued since April 2012) will remain with Royal Mail via the Pension Service Centre.

It is important to stress to all of our members that the change in administration and the appointment of Capita will have no impact on the amount and future security of the pensions you receive. The Cabinet Office decision to award the contract to Capita only relates to the way the RMSPS scheme is administered in the future. Crucially the Trustee will retain full legal responsibility for management of the RMPP and payment of those benefits earned since April 2012; therefore members shouldn’t be alarmed by the change in the administration. The benefits built up before April 2012 and held in the RMSPS continue to be underwritten by the Government and the money to pay your RMSPS benefits will continue to come from HM Treasury.

In light of the changes, the CWU will be closely monitoring developments to ensure that the excellent service levels currently provided by our members working for Royal Mail are maintained by Capita and there is no deterioration in the pension admin service offered to scheme members going forward. It is also important that there is close interaction between the two scheme administrators (Royal Mail’s Pension Service Centre and Capita) to ensure members receive their correct benefits and are able to access accurate information about their pensions, both physically, electronically and via phone to the Pensions Helpline (details below).

Both the Cabinet Office and the Pension Trustees will be writing to pension scheme members (active, deferred and those currently in receipt of a pension) in the coming days to notify them of the forthcoming changes. Individuals do not need to take any action.

Members with queries about any pension benefits built up in the Royal Mail Pension Plan (RMPP) from April 2012 will need to contact:

The Pension Service Centre

PO BOX 5863

Pond Street

Sheffield Email: pensions.helpline@royalmail.com

S98 6AB Telephone: 0114 241 4545

From 1st October 2018, for queries about your RMSPS benefits (built up before April 2012) members should contact:

Capita

Royal Mail Statutory Pension Scheme

11b Lingfield Point

Darlington Email: enquiries@rmsps.co.uk

DL1 1AX Telephone: 0333 222 0078

Finally, the change of Pension Administration is very unfortunate, especially for those members working in this area who are subject to being TUPED to Capita. However, this decision was down to the Cabinet Office following the procurement process. As a consequence of this situation the Union is naturally dealing with the inevitable TUPE implications arising from the change of administrator. Enquiries relating to this particular aspect should be addressed to Andy Furey’s Department.

Any enquiries in relation to the change of pension administration and content of this LTB should be addressed to the DGS(P) Department.

Yours sincerely,





Terry Pullinger – Deputy General Secretary (Postal)

Andy Furey – Assistant Secretary

18LTB495 – Royal Mail Statutory Pension Scheme (RMSPS) – Change in Administration http://emails.cwu.org/t/d-l-bkjuhhk-ztkjiuyil-i/

View Online http://emails.cwu.org/t/d-l-bkjuhhk-ztkjiuyil-d/

LTB 495/18 - Royal Mail Statutory Pension Scheme (RMSPS) - Change in Administration

31 Aug 2018, 15:56

New rmsps website www.royalmailsps.co.uk

LTB 495/18 - Royal Mail Statutory Pension Scheme (RMSPS) - Change in Administration

31 Aug 2018, 22:09

Expect them to get your pension figures wrong. This company don't have a good record.

LTB 495/18 - Royal Mail Statutory Pension Scheme (RMSPS) - Change in Administration

31 Aug 2018, 22:24

Pension,bye bye

LTB 495/18 - Royal Mail Statutory Pension Scheme (RMSPS) - Change in Administration

31 Aug 2018, 23:23

Notice how the much vaulted, on the cusp of something very special, has faded and their getting right into the bullying pension. Always new it was going to go this way and it doesn't affect my pension but I hate to see any working class troops get f****d over but especially my old comrades a lot of whom still work for this bell end mob. :arrrghhh

LTB 495/18 - Royal Mail Statutory Pension Scheme (RMSPS) - Change in Administration

01 Sep 2018, 04:08

Capita are regularly referred to as Crapita in Private Eye for the vast number of cock-ups they have made in services far and wide.
Some of the folk in the British Army for example are less than impressed:

https://www.arrse.co.uk/community/threa ... ct.276203/

There are plenty of other examples of Crapita's incompetence out there. This is a worrying, dangerous and foolish move by the government IMHO. If it ain't broke, don't fix it, unless there are unscrupulous financial gains to be made for some?

LTB 495/18 - Royal Mail Statutory Pension Scheme (RMSPS) - Change in Administration

01 Sep 2018, 10:43

This is concerning, up till now I get one single payment a month, anyone know if it will be 2 payments now, one from royal mail RMPP, and one from Capita RMSPS.

LTB 495/18 - Royal Mail Statutory Pension Scheme (RMSPS) - Change in Administration

01 Sep 2018, 14:11

windermeredave wrote:This is concerning, up till now I get one single payment a month, anyone know if it will be 2 payments now, one from royal mail RMPP, and one from Capita RMSPS.

Taken from the relevant page on theRMPP website:

Your pension benefits may be paid in two parts, because they may come from two different schemes. One is the Royal Mail Statutory Pension Scheme (RMSPS), which was set up by the Government in April 2012, and is responsible for paying the benefits you earned before that date. The other is the Royal Mail Pension Plan (RMPP), which covers any benefits you earned after that.

This means that if you were an active member (still paying contributions to the RMPP) on 1 April 2012, you usually receive two payments when you receive your pension – one from the RMPP and one from the RMSPS. If you left employment, opted out of the RMPP, or started to receive all of your benefits before 1 April 2012, then all of your benefits will come from the RMSPS.

The Pensions Service Centre calculates the split between the pension you earned in the RMSPS and the RMPP. They will explain exactly who pays what when they tell you how much your pension will be, shortly before it starts to be paid.

 

LTB 495/18 - Royal Mail Statutory Pension Scheme (RMSPS) - Change in Administration

02 Sep 2018, 22:18

Like I said . Smoke and mirrors ;layer upon layer ; obfuscate ,muddy,cover your tracks; why? Jargonese,bullshit baffles brains,of course management is trying their hardest to maximise your wage in retirement. :left: :left: :left: :left: :left: :left: :left: :left:

LTB 495/18 - Royal Mail Statutory Pension Scheme (RMSPS) - Change in Administration

03 Sep 2018, 08:36

LOL! :arrrghhh

This isn't an ideal arrangement considering Capita's reputation, but I think anyone with even a modicum of sense will see that it's just a money saving exercise from the government: https://www.ipe.com/countries/uk/capita ... ullarticle
:cuppa

LTB 495/18 - Royal Mail Statutory Pension Scheme (RMSPS) - Change in Administration

03 Sep 2018, 11:57

You can kiss you Final Salary goodbye prepare to work till you drop in the coming years.

LTB 495/18 - Royal Mail Statutory Pension Scheme (RMSPS) - Change in Administration

03 Sep 2018, 15:29

k979aaa wrote:You can kiss you Final Salary goodbye prepare to work till you drop in the coming years.

No one will be losing any pension! :thumbup

Capita are just taking over the admin for the RMSPS rather than the in house PSC, who will still be administering the RMPP.

The final salary scheme closed in 2008 anyway! :wave

LTB 495/18 - Royal Mail Statutory Pension Scheme (RMSPS) - Change in Administration

03 Sep 2018, 16:48

RobertT wrote:
k979aaa wrote:You can kiss you Final Salary goodbye prepare to work till you drop in the coming years.

No one will be losing any pension! :thumbup

Capita are just taking over the admin for the RMSPS rather than the in house PSC, who will still be administering the RMPP.

The final salary scheme closed in 2008 anyway! :wave

I know it did to my own cost warned people on here about it before it happend RobertT could see everything that has happend since but your a better figures person than I will ever be but forewarned is forearmed and I just don't trust this government anymore than Royal Mail or Capita or other nefarious parasites who have bestowed themselves upon us all since the GREAT PENSIONS ROBBERY OF 2008 but nobody did diddly squat told you all and nobody did nothing!

LTB 495/18 - Royal Mail Statutory Pension Scheme (RMSPS) - Change in Administration

03 Sep 2018, 18:20

Gordon Brown made the situation worse by taxing the surplus of the pension schemes,
This caused a much deficit than it needed to be as pension scheme simply reduced or had a pension payment holiday to avoid the tax.

In the end it didn't raise that much and was very short sighted.

Gordon Brown the man who robbed your old age.

LTB 495/18 - Royal Mail Statutory Pension Scheme (RMSPS) - Change in Administration

03 Sep 2018, 18:58

I was telling people the FS scheme would close – people on here said no it won't!
I was telling people the CSDB scheme would close – people on here said no chance!
I've been telling people not to take their pensions early – but they still do!
I've been telling people to be pro-active and save more for their retirement - but they still don't(the majority of them anyway)!

Pension closures are the way of the world and from a business point of view, I can understand perfectly why few companies want to burden themselves with a DB scheme. If I was setting up my own business and had to set up a pension for my employees, I wouldn't touch a DB scheme with a barge pole!

Personally, had the FS scheme stayed open with an NRA of 60 I would probably still be able to retire at that age by just using my RM pension. As it is, I've had to save a large amount into AVC's, a personal pension and ISA's over the years to put myself into roughly the same position. Although I've actually saved so much I should be able to retire at 55 fairly comfortably!
If I hadn't, I'd be working until 65, if not 67(my state pension age).

I don't blame RM, the government, Gordon Brown or anything else for that matter. DB schemes have been closing left, right and centre for years, it was only a matter of time before the same happened in RM. And that has obviously happened with the FS scheme in 2008 and the CSDB in 2018.

I predicted the changes and put things in place to counteract them and encouraged others to do the same!
Ultimately it's about being realistic and the individual taking an interest in their own retirement, making use of the info available to them and doing the right thing for them. Sadly not enough people do and then blame somebody else.

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