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New Pension Sheme

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.
11aaa222
Posts: 81
Joined: 23 Jul 2013, 23:40
Gender: Male

New Pension Sheme

Post by 11aaa222 »

The new scheme was due to launch 2022, and then end of 2022 / early 2023

And then April 2023.

Now it is not looking likely til end of this year.

Anyone with any further updates, I am wanting to stop paying into my AVC's but keep delaying it as I do not want the hassle as was hoping it will stop automatic when this new scheme launches...


But this is yet to happen and now it has all gone very quite......???????
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RobertT
EX ROYAL MAIL
Posts: 6647
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: New Pension Sheme

Post by RobertT »

The CDC scheme is currently in the hands of the Pensions Regulator.

Officially, the plan is still to start it sometime in 2023.

See the following link for more info, including what happens to the current AVC's.

https://www.myroyalmail.com/collective-plan
Links to all RM pension related websites are here
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Wullie10
EX ROYAL MAIL
Posts: 701
Joined: 30 Jul 2017, 12:07
Gender: Male
Location: Retired

Re: New Pension Sheme

Post by Wullie10 »

Wonderful. Yet another pension plan. I've lost count.
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RobertT
EX ROYAL MAIL
Posts: 6647
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: New Pension Sheme

Post by RobertT »

Wullie10 wrote: ↑
05 Mar 2023, 12:40
 Wonderful. Yet another pension plan. I've lost count.
It's not exactly a new thing, they've been planning it for the last 5 years!
Links to all RM pension related websites are here
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rambo1
EX ROYAL MAIL
Posts: 3266
Joined: 12 Jun 2013, 20:00
Gender: Male

Re: New Pension Sheme

Post by rambo1 »

It's about time they started planning the (inevitable with royal mail) next one too then lol.
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Dorset Plodder
Posts: 4351
Joined: 29 Apr 2009, 20:05
Gender: Male

Re: New Pension Sheme

Post by Dorset Plodder »

I was chatting to a customer who suggested we have a really good pension scheme. I told her in fact we've got three, or four, pension schemes.

"And I bet each one got progressively worse"? was her reply. And she wasn't even a Pensions Specialist! I often find my Older Customers have a fine grasp of reality when it comes to working for Big Businesses .... I think it's called "Life Experience". :cuppa
Like all Wage Slaves, he had two crosses to bear: The people he worked for and the people he worked with! (Stephen Vizinczey.)
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Wullie10
EX ROYAL MAIL
Posts: 701
Joined: 30 Jul 2017, 12:07
Gender: Male
Location: Retired

Re: New Pension Sheme

Post by Wullie10 »

So if this new pension turns up and you have say a year before you leave. Do you just politely decline? Surely if you're continuing to work elsewhere you'd be better off with a private pension unless your new employer has a cracking pension? I know Robert will disagree :d'oh!
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RobertT
EX ROYAL MAIL
Posts: 6647
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: New Pension Sheme

Post by RobertT »

Wullie10 wrote: ↑
13 Mar 2023, 15:48
 So if this new pension turns up and you have say a year before you leave. Do you just politely decline? Surely if you're continuing to work elsewhere you'd be better off with a private pension unless your new employer has a cracking pension? I know Robert will disagree :d'oh!
Yes, I would disagree!

Turning down 'free money' is rarely a good decision.
Links to all RM pension related websites are here
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