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Pension advice

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.
LUV THE SMELL OF LETTERS
Posts: 64
Joined: 04 Feb 2008, 11:34
Location: north london

Pension advice

Post by LUV THE SMELL OF LETTERS »

I have a private pension on hold at the moment. I am thinking of transfering it into the royal mail one. Would this be a wise move ?
Its only worth a couple of grand. I dont know if I should just leave it the way it is or transfer it. Or I could stop my royal mail one and start paying back into my private one.
Can any one give me some advice?
:hmmmm :hmmmm
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Darren Bent
Posts: 2150
Joined: 05 Oct 2007, 15:38
Gender: Male
Location: Pride Park, Derby, DE24 8XL

Post by Darren Bent »

Talk to Pension adviser as they can give you better advise. I would keep both going if it were me.
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Sick Postie
Posts: 91
Joined: 12 Jul 2007, 20:51
Gender: Female
Location: Ulster

Post by Sick Postie »

A financial adviser will be able to find out how much your pension would be worth although if its under £20k it's probably not worth while moving it.
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jafferpants
Posts: 727
Joined: 24 May 2007, 16:21
Location: OVER THE HILL

Re: Pension advice

Post by jafferpants »

LUV THE SMELL OF LETTERS wrote:I have a private pension on hold at the moment. I am thinking of transfering it into the royal mail one. Would this be a wise move ?
Its only worth a couple of grand. I dont know if I should just leave it the way it is or transfer it. Or I could stop my royal mail one and start paying back into my private one.
Can any one give me some advice?
:hmmmm :hmmmm
It all depends if your pension is protected rights or not if it is then you could not transfer to rm anyway
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LUV THE SMELL OF LETTERS
Posts: 64
Joined: 04 Feb 2008, 11:34
Location: north london

Post by LUV THE SMELL OF LETTERS »

Thanks lads :cuppa
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POSTMAN
SITE ADMINISTRATOR
Posts: 32669
Joined: 07 Aug 2006, 03:19
Gender: Male

Post by POSTMAN »

LUV THE SMELL OF LETTERS wrote:Thanks lads :cuppa
That's what we're here for,and how did you get back on! :hmmmm
I Wrote-During Covid-Which is still relevant now
It's good to get these types of threads, the ridiculous my manager said bollox, so we can reassure ourselves that while the world is falling apart, Royal Mail managers are still being the low-life C***S they have always been.
My BFF Clash
The daily grind of having to argue your case with an intellectual pigmy of a line manager is physically and emotionally draining.
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Carnoustie
MAIL CENTRES/PROCESSING
Posts: 793
Joined: 31 Jan 2007, 22:00

Re: Pension advice

Post by Carnoustie »

LUV THE SMELL OF LETTERS wrote:I have a private pension on hold at the moment. I am thinking of transfering it into the royal mail one. Would this be a wise move ?
I had about 7 years service in a previous employer's scheme. A few years ago, after I wrote a load of letters back and forth, I eventually got all of my accrued monies transferred into the Royal Mail scheme. So after reading that RM is basically planning to make us work longer for a less-generous pension, you can imagine how I feel right now ....


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BELIAL
Posts: 6758
Joined: 15 Jun 2007, 17:33
Gender: Female
Location: Nowhere

Post by BELIAL »

OOh that ones dry as a bone
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jafferpants
Posts: 727
Joined: 24 May 2007, 16:21
Location: OVER THE HILL

Re: Pension advice

Post by jafferpants »

Carnoustie wrote:
LUV THE SMELL OF LETTERS wrote:I have a private pension on hold at the moment. I am thinking of transfering it into the royal mail one. Would this be a wise move ?
I had about 7 years service in a previous employer's scheme. A few years ago, after I wrote a load of letters back and forth, I eventually got all of my accrued monies transferred into the Royal Mail scheme. So after reading that RM is basically planning to make us work longer for a less-generous pension, you can imagine how I feel right now ....


Image

Thats as maybe carnoustie but you still need to realise it's a million times better than a private pension. your benifits are still defined which is something you won't get in the alternative.
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Carnoustie
MAIL CENTRES/PROCESSING
Posts: 793
Joined: 31 Jan 2007, 22:00

Post by Carnoustie »

It's not the benefits being defined that's the problem, it's that they're being shrunk from what I thought I'd be getting :evil/mad
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jafferpants
Posts: 727
Joined: 24 May 2007, 16:21
Location: OVER THE HILL

Post by jafferpants »

Carnoustie wrote:It's not the benefits being defined that's the problem, it's that they're being shrunk from what I thought I'd be getting :evil/mad


If it's any consolation my wifes benefits have shrunk from what she was originaly getting and i'm not talking about the pension!!!!!!!!! :oops: :oops: :oops:
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dvbuk55
EX ROYAL MAIL
Posts: 16650
Joined: 02 Jun 2007, 19:17
Gender: Male

Post by dvbuk55 »

jafferpants wrote:
Carnoustie wrote:It's not the benefits being defined that's the problem, it's that they're being shrunk from what I thought I'd be getting :evil/mad


If it's any consolation my wifes benefits have shrunk from what she was originaly getting and i'm not talking about the pension!!!!!!!!! :oops: :oops: :oops:
Naturally - you'll be talking fringe benefits no doubt. :wave
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Carnoustie
MAIL CENTRES/PROCESSING
Posts: 793
Joined: 31 Jan 2007, 22:00

Post by Carnoustie »

jafferpants wrote:
Carnoustie wrote:It's not the benefits being defined that's the problem, it's that they're being shrunk from what I thought I'd be getting :evil/mad


If it's any consolation my wifes benefits have shrunk from what she was originaly getting and i'm not talking about the pension!!!!!!!!! :oops: :oops: :oops:
But have you been putting a little something in every week for the last 45 years ? :shock:
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jafferpants
Posts: 727
Joined: 24 May 2007, 16:21
Location: OVER THE HILL

Post by jafferpants »

Carnoustie wrote:
jafferpants wrote:
Carnoustie wrote:It's not the benefits being defined that's the problem, it's that they're being shrunk from what I thought I'd be getting :evil/mad


If it's any consolation my wifes benefits have shrunk from what she was originaly getting and i'm not talking about the pension!!!!!!!!! :oops: :oops: :oops:
But have you been putting a little something in every week for the last 45 years ? :shock:

I'm glad you said "little" :whistle
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