( as always ) . I started the plan one year ago with the bonus. I'm leaving within weeks 
any idea what this would be worth at 67 when it is accessed? I know the Lump Sum will depend on limits at the time. So basically a years worth. Thanks.
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One years collective plan worth
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Wullie10
- EX ROYAL MAIL
- Posts: 692
- Joined: 30 Jul 2017, 12:07
- Gender: Male
- Location: Retired
One years collective plan worth
One for Robert ( as always ) . I started the plan one year ago with the bonus. I'm leaving within weeks any idea what this would be worth at 67 when it is accessed? I know the Lump Sum will depend on limits at the time. So basically a years worth. Thanks.
( as always ) . I started the plan one year ago with the bonus. I'm leaving within weeks any idea what this would be worth at 67 when it is accessed? I know the Lump Sum will depend on limits at the time. So basically a years worth. Thanks.-
RobertT
- EX ROYAL MAIL
- Posts: 6622
- Joined: 09 Sep 2007, 14:26
- Gender: Male
Re: One years collective plan worth
Does it tell you when you login to your account? 
Otherwise, for each year of employment the basic accrual rate is 1/80 of pensionable pay for the pension, 3/80ths for the lump sum and another 2% on top for the booster.
The exact amounts will obviously vary depending on how much you earn, plus the annual valuations.
But as an example someone with pensionable pay of £500 per week should accrue a pension of £325, a lump sum of £975 and a lump sum booster of £520 for each 52 weeks of membership.
You can take your pension at 67 unreduced, earlier with a reduction, or take a transfer value and move to a personal pension.
Otherwise, for each year of employment the basic accrual rate is 1/80 of pensionable pay for the pension, 3/80ths for the lump sum and another 2% on top for the booster.
The exact amounts will obviously vary depending on how much you earn, plus the annual valuations.
But as an example someone with pensionable pay of £500 per week should accrue a pension of £325, a lump sum of £975 and a lump sum booster of £520 for each 52 weeks of membership.
You can take your pension at 67 unreduced, earlier with a reduction, or take a transfer value and move to a personal pension.
Links to all RM pension related websites are here
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Wullie10
- EX ROYAL MAIL
- Posts: 692
- Joined: 30 Jul 2017, 12:07
- Gender: Male
- Location: Retired
Re: One years collective plan worth
Ah yes. For some reason I can no longer log in. Same with that Robin app. I just gave up. Cheers
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qwerty2
- Posts: 1979
- Joined: 30 Jun 2009, 00:42
- Gender: Male