Need help with pension!

[nightcrawler]

I’m at a complete loss when it comes to my RM pension. I’m approaching my 55th birthday, and have done over 30 years as a postie (I started in 1991) As far as I understand it (please correct me if I’m wrong) my RM pension is split across 3 different schemes because they (RM) keep changing it. What’s the best way to find out how much my pension is worth overall, and how much can I draw on (if I choose to) at 55? I’ve heard that “pension wise” can be very helpful, but what info do I need at hand before contacting them? What about HR - can they help?
ANY help would be appreciated!

[RobertT]

To find out how much you're Age60 and Age65 benefits(everything accrued up to 2024) would pay out, just get a quote.
You can do that online here: https://www.royalmailpensionplan.co.uk/ ... ment-form/

Your RM Age60/65 pensions are what's known as defined benefit schemes, which provide benefits based on your pensionable pay and length in the scheme/s.
Pension Wise is aimed at those with defined contribution schemes, which are different - they're basically pots of money with options.
They might be able to give you general guidance, but it won't be specific to your RM pension/s.
https://www.moneyhelper.org.uk/en/pensi ... nsion-wise

[Chelseablue]

Nightcrawler im same as youreslf. Its a minefield and shouldnt be. Im wanting out soon , esp with this horror show coming soon. Its like a comedy and we are part of the joke . Cpl years time DK will have his way with us all . Done a lot of years , its sad to see what they have done to RM. Hope you find out soon about your pension.

[BenacreNick]

All various RM pension pots needs lumping together into one easy to access, easy to view place.

There were plans for this a while back, is this still on schedule please ?

[RobertT]

All various RM pension pots needs lumping together into one easy to access, easy to view place.
There were plans for this a while back, is this still on schedule please ?

I don't think they're was anything specific to RM(I could be wrong), but the Pensions Dashboard programme is planned for every pension you have to be available to view online in one place, including the state.

All schemes are supposed to be connected by the end of October 2026, with a go live date for the public to use it, probably sometime in 2027.

But as it's already over run and cost more, I wouldn't be surprised to see that extended.

https://www.pensionsdashboardsprogramme.org.uk/

[mr hil.]

I signed up for the beta testing for the pensions dashboard and the last time I tried it the RM pensions were not showing up as I expected. It was still an early Beta and that was far from complete but it looked promising.