not on facebook
ANNOUNCEMENT : ALL OF ROYAL MAIL'S EMPLOYMENT POLICIES (AGREEMENTS) AT A GLANCE (UPDATED 2017)... HERE

ANNOUNCEMENT : NEW CORONAVIRUS FORUM... HERE



91 days

29 Feb 2020, 20:41

I have cashed in an old private pension, with it came a notice saying i have 91 days to inform the trustees/ Provider of any registered pension you or anyone on your behalf is contributing to that I have flexibly accessed pension pot.
Is our company pension a Registered pension & if so who do i contact, any help please

91 days

01 Mar 2020, 06:52

By 'cashing in' your private pension you've triggered the Money Purchase Annual Allowance(MPAA), which means amongst other things, that you have to tell any other DC pension schemes you're currently paying into.

As a RM employee, far as I know that will only apply if you're paying into AVC's(Bonusplan & Flexiplan) or the RM Defined Contribution Plan, and not the DBCBS as that's Defined Benefit, or if your private pension was worth less than £10,000.
Failure to tell them when you should, could result in a fine.

More info:

https://www.moneyadviceservice.org.uk/e ... -allowance
https://www.pru.co.uk/pdf/GENM282401.pdf

My advice is to contact both the RMPP and the RMSPS and ask them to clarify.
Their contact details can be found here:

RMPP: https://www.royalmailpensionplan.co.uk/ ... l-contacts
RMSPS: https://www.royalmailsps.co.uk/contact-us

91 days

01 Mar 2020, 13:13

Thanks for that, I will try them tomorrow

Previous page Next page


Page 1 of 1