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Portal for RMSPS

08 Oct 2019, 17:23

See you can now register for the online RMSPS. ... bbz2ri8mt0

However for the moment it won't work if you are also in the RMPP. Given Capita that will become available sometime in the next ten years!

Portal for RMSPS

08 Oct 2019, 18:25

Any pensioner or deferred RMSPS members signed up?

What are the benefits?

Portal for RMSPS

29 Jan 2020, 12:44

Now live for all members.
Having logged on so far nothing to see apart from your own details- age and when you joined the scheme. I assume eventually you will be able to see the value of your RMSPS .
The only main link within it to a Capita website where they seem to celebrate how well their doing! ... ckult2zf6t

Portal for RMSPS

29 Jan 2020, 20:37

I have just registered and it is showing what my pension could be if you click the retirement illustrator link on the dropdown menu. No other details apart from personal ones. The figure produced on the illustrator page is less than I was expecting when compared with recent figures I received through the post (last December)

Portal for RMSPS

20 Feb 2020, 17:40

After reading a little more it appears that the pension illustration is for only the benefits built up before 2012, and they are more than the paper figures we received last year (up to 31 March 2019).

The figures bare no resemblance to the paper befits statement, Our pensions are a total mess, with so many different elements to try and get your head round and poorly designed statements that may include everything or just some of the benefits. I hope the government proposals for an all inclusive pensions portal will help clarify this mess.

Portal for RMSPS

20 Feb 2020, 20:56

I don't think it actually says anywhere, but I assume the pension amount shown includes inflationary increases until your 'preferred retirement date'. The annual paper statement says what it's worth on 31st March of that year.

I would agree the statements are very poorly done, and if they're going to start providing things like this online, they should include all benefits – RMSPS, RMPP, DBCBS & AVC's in one place and in NRA60 & NRA65 format. With calculators to work out pensions & lump sums (including from AVC's & DBCBS) at different ages, etc.

But this is RM we're talking about, so I suspect that's a step too far!

Portal for RMSPS

20 Feb 2020, 22:27

So I think it says I should get around £900'a month .Is this just the age60 benefits and if so any idea how much I would expect for my age65 if I took them at 60? Just a rough idea I.e 1,2 or 3 thousand?

Portal for RMSPS

21 Feb 2020, 04:54

After some thought and a bit of maths, I think what I said in my previous post about the figures including inflationary increases, is not correct. :oops:

The first thing to realise is that neither the annual illustration or this RMSPS website give the figures in NRA60 & NRA65 format.

The annual illustration shows final salary benefits(up to 31st March 2008) and CSDB benefits(from 1st April 2008 to 31st March 2018).
While this new website tells you your RMSPS figures, which is up to 31st March 2012.

NRA60 relates to service up to 31st March 2010, and NRA65 is from 1st April 2010 to 31st March 2018.

The RMSPS(pre 2012) is what the government is responsible for paying, the RMPP(post 2012) is RM's responsibility.

So to get rough NRA60 figures using the figures on your annual illustration, you need to take 2 years away from your CSDB benefits and add them to your final salary figures. What's left is your NRA65.

And if you want to use the figures on the RMSPS website, taking 2 years worth away from the amount shown should give you your NRA60.

Bear in mind this will only give rough figures, but it'll give you a decent idea of what you'll get.
In my case the NRA60 figures from my annual illustration work out as about £120 per year more than from the RMSPS website. Which in my opinion is in the same ballpark.

If you want to take any pension before NRA then take off 5% per year.

Portal for RMSPS

21 Feb 2020, 16:52

Sorry to be a pain but does that mean the enclosed figures are just for my age60 and any age65 would be in addition ( minus 25%).
You do not have the required permissions to view the files attached to this post.

Portal for RMSPS

21 Feb 2020, 17:43

Like I said, neither the annual illustration or the RMSPS website give figures in NRA60 & NRA65 format.

The figures in your attachment are what comes under the RMSPS – the benefits you accrued up to 31st March 2012, which are paid for by the government.

Your NRA60 benefits are only for service up to 31st March 2010, therefore those benefits will be lower than the figures in your attachment to allow for those 2 years(2010-2012). They will then be included in your NRA65 figures.

You're in Section A/B, so you will have an NRA60 pension & lump sum for benefits accrued up to 31st March 2010, and an NRA65 pension & lump sum for benefits accrued afterwards. Reduced by 5% for each year you take them before NRA.

In my opinion the best way to work out your NRA60 & NRA65 figures is by using your annual illustration. This new RMSPS website just muddies the waters.

Take your CSDB figures(pension & lump sum for section A/B), and divide by 10, to get an average of what you've accrued each year from 2008 to 2018.

Then add 2 of those years to your final salary(pre 2008) benefits to give your NRA60 benefits.

The remaining 8 years are your NRA65 benefits.

Like I said in my previous post, it won't be 100% accurate, but it'll give you a reasonably good idea of how much to expect. Don't forget to reduce your benefits(pension & lump sum) by 5% for each year you intend to take them early.

I hope that helps.

Portal for RMSPS

21 Feb 2020, 18:10

IThanks Robert I understand now. Maybe RM could employ you to actually put the figures in a way the averagepostie could understand. :thumbup

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