06 Jul 2019, 10:48
06 Jul 2019, 10:55
06 Jul 2019, 12:17
Pgreen50 wrote:Hi. I left Royal Mail in March 2010 and therefore have a small pension sat waiting in sectionA/B. Could anyone tell me if this would be a defined benefit or defined contribution scheme. The reason I ask is that I believe there are difference in how you can take the pension. I was looking to use the yearly part of the pension to cash into a total lump sum leaving no actual yearly amount payable. I read that this may not be possible under the defined benefit scheme. Any insight would be appreciated between the different schemes and what scheme you may possibly believe myself to be a part of. Its not a massive amount sat in both. Around 2,500 annually and a lump sum of 7,500.
06 Jul 2019, 12:24
TrueBlueTerrier wrote:with so many pension options and plans at Royal Mail now, I have been here 14 years and 1 think I am on my 3rd type and waiting for the 4th to be set up.
Its probably best to contact the pension people direct. Your latest pension update though should give you some clues.
06 Jul 2019, 21:34
07 Jul 2019, 12:19