ANNOUNCEMENT : ALL OF ROYAL MAIL'S EMPLOYMENT POLICIES (AGREEMENTS) AT A GLANCE (Updated 2021)... HERE

ANNOUNCEMENT : PLEASE BE AWARE WE ARE NOT ON FACEBOOK AT ALL!


Now pensions - anybody got one?

An 'unofficial' forum for those who either work for Royal Mail or are looking to work for Royal Mail through the Angard Staffing Agency.This is an open forum.
Post Reply
paulus103
MAIL CENTRES/PROCESSING
Posts: 216
Joined: 19 Jan 2018, 01:55
Gender: Male

Now pensions - anybody got one?

Post by paulus103 »

I had an email saying I wasn't eligible for the Angard pension scheme - which is what I expected but I was curious so I read up about the provider chosen by Angard/Royal Mail
They have an awful reputation and shed load of complaints and were fined by the regulator in Feb 2018

They even put themselves up for sale - https://corporate-adviser.com/now-pensions-put-sale/" onclick="window.open(this.href);return false;

"The provider has also been under pressure over the dismal performance of its default fund, which has barely kept pace with inflation through three years of rising markets."

"Earlier this month (feb 2018) the Pensions Regulator fined the trustees of Now: Pensions £20,000 for administration problems, following an earlier fine of £50,000 last November. TPR issued the provider with an Improvement Notice, while a Third Party Notice, has been issued to the trust manager, Now: Pensions Ltd (NPL)."

"... has been offered for sale to a number of parties over the last few months. However, at least one provider has rejected the £560m scheme because of ongoing concerns over its administration."

Check out - http://citywire.co.uk/new-model-adviser ... t/a1040524" onclick="window.open(this.href);return false;

The charges are £1.50 per month plus an annual management charge of 0.3% per year - basically, they don't want pensions with small pots which seems to defeat the whole object of setting up an Angard pension anyway

What do people think?

Bazza01
Posts: 69
Joined: 11 May 2013, 20:09
Gender: Male

Now pensions - anybody got one?

Post by Bazza01 »

paulus103 wrote:I had an email saying I wasn't eligible for the Angard pension scheme - which is what I expected but I was curious so I read up about the provider chosen by Angard/Royal Mail
They have an awful reputation and shed load of complaints and were fined by the regulator in Feb 2018

They even put themselves up for sale - https://corporate-adviser.com/now-pensions-put-sale/" onclick="window.open(this.href);return false;

"The provider has also been under pressure over the dismal performance of its default fund, which has barely kept pace with inflation through three years of rising markets."

"Earlier this month (feb 2018) the Pensions Regulator fined the trustees of Now: Pensions £20,000 for administration problems, following an earlier fine of £50,000 last November. TPR issued the provider with an Improvement Notice, while a Third Party Notice, has been issued to the trust manager, Now: Pensions Ltd (NPL)."

"... has been offered for sale to a number of parties over the last few months. However, at least one provider has rejected the £560m scheme because of ongoing concerns over its administration."

Check out - http://citywire.co.uk/new-model-adviser ... t/a1040524" onclick="window.open(this.href);return false;

The charges are £1.50 per month plus an annual management charge of 0.3% per year - basically, they don't want pensions with small pots which seems to defeat the whole object of setting up an Angard pension anyway

What do people think?
Good timing I have seen my financial guy this week who tells me that my pensions by a couple of major providers have perform very well over the last 5 years but that the Now pension although I have not had it more than a couple of years as a percentage had out performed the others so I would say go with them and if you can pyt in extra.
dancingqueen
Posts: 128
Joined: 24 Jul 2016, 13:17
Gender: Male

Now pensions - anybody got one?

Post by dancingqueen »

I don't have a pension and have no plans to get one.

What I earn each month I spend and more on my credit card.

Live for today.

I have lost too many friends in recent years to worry about tucking money away for a pension. Waste of time.

Spend spend spend whilst you can.

If you do manage to get to OAP age then live off the state pension and become a recluse.

These are my plans anyway.
paulus103
MAIL CENTRES/PROCESSING
Posts: 216
Joined: 19 Jan 2018, 01:55
Gender: Male

Now pensions - anybody got one?

Post by paulus103 »

Bazza01 wrote:
paulus103 wrote:I had an email saying I wasn't eligible for the Angard pension scheme - which is what I expected but I was curious so I read up about the provider chosen by Angard/Royal Mail
They have an awful reputation and shed load of complaints and were fined by the regulator in Feb 2018

They even put themselves up for sale - https://corporate-adviser.com/now-pensions-put-sale/" onclick="window.open(this.href);return false;

"The provider has also been under pressure over the dismal performance of its default fund, which has barely kept pace with inflation through three years of rising markets."

"Earlier this month (feb 2018) the Pensions Regulator fined the trustees of Now: Pensions £20,000 for administration problems, following an earlier fine of £50,000 last November. TPR issued the provider with an Improvement Notice, while a Third Party Notice, has been issued to the trust manager, Now: Pensions Ltd (NPL)."

"... has been offered for sale to a number of parties over the last few months. However, at least one provider has rejected the £560m scheme because of ongoing concerns over its administration."

Check out - http://citywire.co.uk/new-model-adviser ... t/a1040524" onclick="window.open(this.href);return false;

The charges are £1.50 per month plus an annual management charge of 0.3% per year - basically, they don't want pensions with small pots which seems to defeat the whole object of setting up an Angard pension anyway

What do people think?
Good timing I have seen my financial guy this week who tells me that my pensions by a couple of major providers have perform very well over the last 5 years but that the Now pension although I have not had it more than a couple of years as a percentage had out performed the others so I would say go with them and if you can pyt in extra.
I'm surprised you say this as I can't find anybody who has a good word to say about NowPensions both in administration and fund performance
asap99
Posts: 33
Joined: 27 Nov 2011, 11:28
Gender: Male

Now pensions - anybody got one?

Post by asap99 »

Ive payed in since the start and my now pension portal says zero.keep asking wages and now pensions why this is and all i get is "there sorting it out .bag of shyte if you ask me.
Lockardian
MAIL CENTRES/PROCESSING
Posts: 405
Joined: 29 Oct 2015, 06:19
Gender: Male

Now pensions - anybody got one?

Post by Lockardian »

NOW can’t even give an accurate figure of total contributions. I keep getting letters saying they are having system problems so a year’s worth of contributions appears to have vanished (but they assure you it’s there... somewhere)!

Is anyone with Pension Bee? Will Angard pay directly into a pension other than NOW?
Post Reply