Gettin back my contributions

vamparicmale · Post by **vamparicmale** » 09 Oct 2008, 13:21

Hi, I might be leaving my position in the royal mail and wondered what happens to all the contributions I've paid into my royal mail pension plan. Is there any way I can reclaim them or do they get put into my government pension scheme?? Any help would be much appreciated as the forms confuse me.

k979aaa · Post by **k979aaa** » 09 Oct 2008, 14:29

vamparicmale wrote:Hi, I might be leaving my position in the royal mail and wondered what happens to all the contributions I've paid into my royal mail pension plan. Is there any way I can reclaim them or do they get put into my government pension scheme?? Any help would be much appreciated as the forms confuse me.

How long have you been in the scheme if more than two year's you cannot get anything back only a pension when you retire!.

johnnyp · Post by **johnnyp** » 09 Oct 2008, 18:26

I may be wrong here so dont quote me but i think if you leave youre pension will be frozen or you can transfere it to another scheme

you can not cash youre pension untill you are a certain age(60) but all that you have paid in should be safe

vamparicmale · Post by **vamparicmale** » 09 Oct 2008, 18:41

k979aaa wrote:How long have you been in the scheme if more than two year's you cannot get anything back only a pension when you retire!.

I've only been in the scheme 11 months at end of Oct. It would be ideal if I can get it back rather than having to put it into another scheme

johnnyp · Post by **johnnyp** » 09 Oct 2008, 18:58

Found this link mate,have a look it might help you.
http://www.royalmailgroup.com/portal/rm ... d=23400505

Post by **POSTMAN** » 09 Oct 2008, 21:13

vamparicmale wrote:
k979aaa wrote:How long have you been in the scheme if more than two year's you cannot get anything back only a pension when you retire!.
I've only been in the scheme 11 months at end of Oct. It would be ideal if I can get it back rather than having to put it into another scheme

You can get your money back,as it's below 2 years.

vamparicmale · Post by **vamparicmale** » 10 Oct 2008, 12:24

Thanks for all your help peeps.Johnnyp the link was very helpful, found out how to go about claiming it back.

vamparicmale · Post by **vamparicmale** » 21 Nov 2008, 10:49

well thankfully after month i was issued with the correct forms to fill in, now just another 2 weeks to wait for cash.

Post by **Lounge Lizard** » 21 Nov 2008, 15:25

vamparicmale wrote:Hi, I might be leaving my position in the royal mail and wondered what happens to all the contributions I've paid into my royal mail pension plan. Is there any way I can reclaim them or do they get put into my government pension scheme?? Any help would be much appreciated as the forms confuse me.

It might be more beneficial to die before you leave as the death benefit paid to your nearest or dearest should be quite substantial.

vamparicmale · Post by **vamparicmale** » 21 Nov 2008, 17:39

Lounge Lizard wrote:It might be more beneficial to die before you leave as the death benefit paid to your nearest or dearest should be quite substantial.

lol it would have been more beneficial as out of the 500+ i paid in i'm only gettin 300 back, where as if i'd died my nearest n dearest would have been paid full years pay lmao

Post by **Lounge Lizard** » 21 Nov 2008, 21:54

vamparicmale wrote:
Lounge Lizard wrote:It might be more beneficial to die before you leave as the death benefit paid to your nearest or dearest should be quite substantial.
lol it would have been more beneficial as out of the 500+ i paid in i'm only gettin 300 back, where as if i'd died my nearest n dearest would have been paid full years pay lmao

Perhaps you are meant to get some satisfaction from your £200+ helping to slightly reduce Royal Mail's pension deficit.

DGP1 · Post by **DGP1** » 21 Nov 2008, 22:25

Lounge Lizard wrote:
vamparicmale wrote:
Lounge Lizard wrote:It might be more beneficial to die before you leave as the death benefit paid to your nearest or dearest should be quite substantial.
lol it would have been more beneficial as out of the 500+ i paid in i'm only gettin 300 back, where as if i'd died my nearest n dearest would have been paid full years pay lmao
Perhaps you are meant to get some satisfaction from your £200+ helping to slightly reduce Royal Mail's pension deficit.

I think you'll find that the £200 would've been paid to someone as comission

Tall Guy · Post by **Tall Guy** » 22 Nov 2008, 00:45

Not being funny, but you'd be better off leaving it in the pension, no matter what.

Nowhere else will you get the guaranteed return on it that you have now.

pocky20 · Post by **pocky20** » 19 Jan 2009, 20:29

so what happens to the money you pay in if rm let you got after a year or so not sacked but just let go with all these cuts and that

Post by **RobertT** » 20 Jan 2009, 06:31

pocky20 wrote:so what happens to the money you pay in if rm let you got after a year or so not sacked but just let go with all these cuts and that

If you leave with more than 3 months,but less than 2 years service you should recieve a letter within 4 weeks of leaving,telling you what your options are.I think your options are:

1) Take a refund - minus tax.
2) Transfer to another pension scheme.

I think you now only have the option of preserving your pension if you have more than 2 years service.

ROYALMAILCHAT