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Notification of Pension rate for the year

Royal Mail pension news and discussion.Please note the advise given in this forum is unofficial, please use the links we have for a more detailed response or see an independent financial adviser.
Cheryl Easton
Posts: 1
Joined: 29 Apr 2020, 14:42
Gender: Female

Notification of Pension rate for the year

Post by Cheryl Easton »

Hi all. I noticed last year, under the new administration, that the letter informing me of any pension increase was at least a month late in coming out. Pension is due tomorrow and I still have no notification about what my new rate will be. I really need this letter to help with completion of my Housing Benefit Claim and also to work out my budget for the year. Have others had their notification? Worried that mine may have got lost. Thanks all.
RobertT
EX ROYAL MAIL
Posts: 6645
Joined: 09 Sep 2007, 14:26
Gender: Male

Notification of Pension rate for the year

Post by RobertT »

If you're in section A/B your CPI increase will be 1.7%.
If you're in section C your RPI increase will be 2.4%.
The figures are based on inflation rates as of September the previous year(2019).

I think someone on here recently said the pension increase letter will be sent out in late April/early May.
Links to all RM pension related websites are here
FAB
Posts: 234
Joined: 06 May 2017, 22:57
Gender: Male

Notification of Pension rate for the year

Post by FAB »

Tomorrow's pension payment will be the bulk of the increase. With the full increase being added from May onwards. Letters for members of the RMSPS and getting paid monthly due in May.
GaryLarbey
Posts: 2
Joined: 06 Jul 2017, 14:39
Gender: Male

Notification of Pension rate for the year

Post by GaryLarbey »

I got a letter from RMPP stating that I was due an uplift in my Pension lump sum due to taking mid way through the year, a few days later a payment was made. Should I get the same from the RMSPS As I have heard nothing from Capita.