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RM pension

04 Jun 2019, 11:32

Hi anyone know if the current (DBCBS) adds to the NRA 60 or only to the nra65 as I'm in pension a/b and will be
Picking up my nra60 in 18 months , thanks for any info .

RM pension

04 Jun 2019, 14:27

rks wrote:Hi anyone know if the current (DBCBS) adds to the NRA 60 or only to the nra65 as I'm in pension a/b and will be
Picking up my nra60 in 18 months , thanks for any info .


Check this out. https://www.royalmailpensionplan.co.uk/ ... ur-pension

RM pension

04 Jun 2019, 14:59

rks wrote:Hi anyone know if the current (DBCBS) adds to the NRA 60 or only to the nra65 as I'm in pension a/b and will be
Picking up my nra60 in 18 months , thanks for any info .

By default, the NRA for the DBCBS is 65 and can only be used to fund the tax free lump sum relating to pension earned between 2012 and 2018. That's the bit that RM are responsible for!

In the 4 pillars agreement it stated that the DBCBS can be taken at 60 without reduction along with NRA60 benefits.
But in practice that would only be allowed if 'cabinet office approval' was granted for the DBCBS to also be linked to our pre 2012 pensions.

RM were supposed to be asking for that approval but whether they've got it or not, hasn't been communicated to the workforce as far as I'm aware.

Perhaps a call or email to the PSC is in order!

More info: https://www.myroyalmail.com/node/11514

4 Pillars agreement: https://www.cwu.org/wp-content/uploads/ ... ow-res.pdf

RM pension

04 Jun 2019, 16:05

A colleague who is reaching 60 shortly has received his documents for the NRA60 section b pension. Amongst the options listed was to take the DBCBS amount at 60 or leave it till 65. He has chosen to leave it till 65.

RM pension

04 Jun 2019, 16:24

FAB wrote:A colleague who is reaching 60 shortly has received his documents for the NRA60 section b pension. Amongst the options listed was to take the DBCBS amount at 60 or leave it till 65. He has chosen to leave it till 65.


That's interesting. Will help me plan my pension better. :Very Happy

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