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DBCB annual benefits statement

05 Aug 2019, 10:13

A colleague, like me, received the RMDCP Annual Benefits Statement recently. However unlike me he transferred to DBCB scheme in 2018.
Has anyone received an annual statement for this scheme?

I assume he would have been sent details on how to log on to the site at the time.

DBCB annual benefits statement

05 Aug 2019, 13:15

There is no ability to find out how much your DBCBS pot is worth online, all members will just get a paper statement at some point, probably sometime in the next 2 months, but as usual will be dated 31st March.

For section A, B & C members it will provide a lump sum to take along with their already accrued benefits. For section F(ex RMDCP) members, it's basically the same as a DC pension but with an NRA of 65(unless you're willing to take a reduction beforehand).

The first discretionary annual bonus isn't due to be added until 31st March 2020, so this years statement will just be the first years worth of contributions – a total of 19.6% of pensionable pay.
If you have access to any of your payslips since 1st April 2018 it shouldn't be too difficult to work out approximately how much your pot is worth. Bearing in mind there was an increase on that date this year.

I'm expecting my section C DBCBS pot to be worth somewhere in the region of £3,830 as at 31/3/19. With a current value today of about £5,200.

DBCB annual benefits statement

05 Aug 2019, 15:34

Thanks for the info Robert . I will pass it on to him tomorrow.
By the way have you any thoughts on the timescale regarding CDC implementation. Is April 2020 a possibility?
Not trying to put you on the spot but I have not heard anything positive & perhaps you have an updated view.

DBCB annual benefits statement

05 Aug 2019, 18:05

rogersh wrote:Thanks for the info Robert . I will pass it on to him tomorrow.
By the way have you any thoughts on the timescale regarding CDC implementation. Is April 2020 a possibility?
Not trying to put you on the spot but I have not heard anything positive & perhaps you have an updated view.

The way I understand things is:

CDC has to be mentioned in the Queens speech at the state opening of parliament for the legislative process to begin. That was originally planned for May, but because of the Tory leadership contest it didn't happen.
A quick Google suggests the last one was actually in 2017 and the next one could happen this month(unlikely imo because MP's are on holiday until September), or might not even happen until next year!

The government decides what's in the Queens speech and they might not even include CDC after all?

Assuming it is part of the QS at some point and according to the consultation document, the legislation would take place 'as and when parliamentary time allows'.

I believe there has been a certain amount of ground work done already, to ensure CDC becomes a reality fairly quickly once the parliamentary and legal stuff is in place.

Therefore in my opinion, had the QS happened in May I think there would have been a reasonable chance of a RM CDC scheme being implemented in 2020. But as there's been no real movement for a while, that now looks highly unlikely.

DBCB annual benefits statement

05 Aug 2019, 19:14

Thanks for your opinion on CDC.

DBCB annual benefits statement

10 Aug 2019, 04:58

RobertT wrote:
rogersh wrote:Thanks for the info Robert . I will pass it on to him tomorrow.
By the way have you any thoughts on the timescale regarding CDC implementation. Is April 2020 a possibility?
Not trying to put you on the spot but I have not heard anything positive & perhaps you have an updated view.

The way I understand things is:

CDC has to be mentioned in the Queens speech at the state opening of parliament for the legislative process to begin. That was originally planned for May, but because of the Tory leadership contest it didn't happen.
A quick Google suggests the last one was actually in 2017 and the next one could happen this month(unlikely imo because MP's are on holiday until September), or might not even happen until next year!

The government decides what's in the Queens speech and they might not even include CDC after all?

Assuming it is part of the QS at some point and according to the consultation document, the legislation would take place 'as and when parliamentary time allows'.

I believe there has been a certain amount of ground work done already, to ensure CDC becomes a reality fairly quickly once the parliamentary and legal stuff is in place.

Therefore in my opinion, had the QS happened in May I think there would have been a reasonable chance of a RM CDC scheme being implemented in 2020. But as there's been no real movement for a while, that now looks highly unlikely.

Our new CDC is like BREXIT never happens on time more promises than Ulysses bereft of thought and lead by a buffoon who thinks more of his appearance than the day to day running of our nation and when it goes tit's up will hide behind the coat tails of MAY at least she had the balls to go to the country and parliament and not let some knob head NAZI rule over him and us all!

DBCB annual benefits statement

12 Aug 2019, 09:26

The majority of MPs in the house are more than willing to trash everything & collapse our society as long as they can stop Brexit happening and keep us in the EU. I think there is more than a fair chance that they will manage to force a general election which will result in multiple parties having significant numbers of MPs or maybe the Tories & Labour losing most of their seats. The CDC is not that important compared to sorting out the current mess so it's probably a very long way off being sorted out presuming they think it is a viable idea.

DBCB annual benefits statement

28 Aug 2019, 15:04

Well we are going to get a queens speech before the next session of parliament so lets hope that things start moving again

DBCB annual benefits statement

28 Aug 2019, 15:51

Apparently the Queens speech will outline a 'very exciting agenda'.

We'll have to wait and see if CDC is included.

DBCB annual benefits statement

28 Aug 2019, 18:14

They'll probably put CDC on the Queen's speech to bulk it out and prevent remainers from putting their own bill in to stop Brexit.

DBCB annual benefits statement

28 Aug 2019, 18:26

Double post

DBCB annual benefits statement

01 Sep 2019, 22:13

RobertT wrote:Apparently the Queens speech will outline a 'very exciting agenda'.

We'll have to wait and see if CDC is included.

More chance of Jimmy Savile reopening TOYSRUS before 31/10/2019

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