One year of the collective pension plan

[RobertT]

You can set up and change the amount of AVC's you pay via the Robin app.

You can change your investment choices via the Scottish Widows Money4Life website.

RMCPP AVC info is here: https://www.scottishwidows.co.uk/save/r ... anavc.html

[Hitcher]

You can change your investment choices via the Scottish Widows Money4Life website.

I've looked all over but can't see anywhere I can change the choices.

[RobertT]

I'm not in the RMCPP(I left RM before it started), but my Flexiplan AVC is still invested with Scottish Widows and managed via their Money4Life website. So assuming it's the same....

Login>Menu>My retirement savings>
select “...” from Actions menu>
Manage My Investments>switch now

Choose 'continue' a few times and you'll end up on a page saying 'tell us which investments you want to sell'. Replace with ones you want to buy.

[Hitcher]

That was it, don't know why I didn't notice the ellipsis before.

Thanks Robert.

[pieoftheday]

Probably a bit sad of me but I looked up what I'd built up in the collective plan after 1 year

Annual income of £367.92
Lump sum of £1751.38

My contributions have been roughly £2000 so I think I'm probably getting a good deal out of it if I make it to retirement as the break even point from employee contributions looks like it will be one year unless I'm missing something.

Just claimed mine as I left in April, £329 income, £1510 lump sum and £687 booster

[mr hil.]

The website projections can be confusing, I recently did a little overtime that involved a pensionable allowance too, when I was checking how much I had accrued so far and what it could be in 5 years time (at retirement) to my surprise the figures had jumped up more than I had expected. On further investigation I realised they had used my last (higher) pensionable pay figure from my last payslip.

Very much akin to how the inland revenue over tax you when you get a backdated pay rise or lump sum by assuming that that is how much you will be getting weekly from now on and forever (if only... )

The more I learn about RM pensions the more complicated it becomes and the more I hate them. If only we could all just transfer them easily to one place, I would even entertain transferring all to Capita and thats saying something

But I suppose at least it would take the guesswork out because I would definitely know I would get sweet FA from them due to total incompetence on their part