pension age

[stodgy88]

will my royalmail pension be paid at 60,i am currently 52 ,

[POSTMAN]

If you want it to,yes,but it will be at a reduced rate.

[belle smith]

all the benifits that you accrue prior to april 2008 ( i think) is payable at the age of 60, anything accrued after that date is payable at the age 65.

[POSTMAN]

I thought you could get the whole lot,but just at a reduced rate.

[belle smith]

If you want it to,yes,but it will be at a reduced rate.

only the benifits accrued after april 2008 are payed at a reduced rate if taken prior to the age of 65.
The CARE scheme we have been moved to pays out a reduced rate if you take it before age 65, it's reduced by 5% per year for every year early you take it, up to a maximum reducsion of 25% for those who take it at the age of 60.

[belle smith]

I thought you could get the whole lot,but just at a reduced rate.

you can, but only the the post 2008 benifits are reduced, anything earned prior to that is not reduced.

[POSTMAN]

Cheers.

[upmyroad]

I thought you could get the whole lot,but just at a reduced rate.

you can, but only the the post 2008 benifits are reduced, anything earned prior to that is not reduced.

So we can still retire at 60 if we wish. ?

[POSTMAN]

I thought you could get the whole lot,but just at a reduced rate.

you can, but only the the post 2008 benifits are reduced, anything earned prior to that is not reduced.

So we can still retire at 60 if we wish. ?

Yes.

[krussel]

God i hope i can afford to go at 60. I am 42 now and starting to struggle

[dvbuk55]

God i hope i can afford to go at 60. I am 42 now and starting to struggle

Nonsense - the Government are about to announce a bill to stop the forced retirement at 65 in 2010 - you will be able to work on to a ripe old age - I am personally thinking of 90, well certainly 85 - then I will get the wife to sell my ashes for fertiliser, just to earn a last few bob to keep her in the manner she is accustomed to. Then of course there is the sliding scale of retirement being increased to 68 so I wouldn't be buying any decent slippers just yet.

On a less lighter note, with the way things are going, particularly energy bills, tree hugging bills, fuel, and of course the Bank bill we will be lucky to ever retire because savings are at an all time interest low - I would start looking to oust someone from a cushy number if I were you, something you can manage til you're at least 110.

[POSTMAN]

pen.jpg

[upmyroad]

God i hope i can afford to go at 60. I am 42 now and starting to struggle

I'm 52. Got past the starting to struggle stage. Now I'm at the really struggling stage.

[baldrick]

all the benifits that you accrue prior to april 2008 ( i think) is payable at the age of 60, anything accrued after that date is payable at the age 65.

I don't think thats right. Any benefits you accrue up to April 2010, including the
CARE amounts from April 2008 - April 2010 can be taken at age 60. Any CARE
benefits accrued after April 2010 will be reduced if you take them before 65.

[belle smith]

all the benifits that you accrue prior to april 2008 ( i think) is payable at the age of 60, anything accrued after that date is payable at the age 65.

I don't think thats right. Any benefits you accrue up to April 2010, including the
CARE amounts from April 2008 - April 2010 can be taken at age 60. Any CARE
benefits accrued after April 2010 will be reduced if you take them before 65.

you could be right about that, as the retirement age dosen't move until 2010.