im 55 been in the job 40 years
can i take my pension now?
cos the way i understand it when you either reach 55 or 40 years you stop paying?
is this true
help
ANNOUNCEMENT : ALL OF ROYAL MAIL'S EMPLOYMENT POLICIES (AGREEMENTS) AT A GLANCE (Updated 2021)... HERE
ANNOUNCEMENT : PLEASE BE AWARE WE ARE NOT ON FACEBOOK AT ALL!
advice
-
postie222
- Posts: 177
- Joined: 25 Mar 2010, 09:39
- Gender: Male
Re: advice
old scheme you could only go to 40 years, new scheme can go longer.you can take your pension at 55 get a quote, you lose 5% per year.
-
happymackem
- EX ROYAL MAIL
- Posts: 304
- Joined: 27 Oct 2009, 19:02
- Gender: Male
- Location: in the land of the mackems
Re: advice
cheers mate,will tell the wife as it was her nagging that got me to ask the questionpostie222 wrote:old scheme you could only go to 40 years, new scheme can go longer.you can take your pension at 55 get a quote, you lose 5% per year.
-
easter bunny
- Posts: 378
- Joined: 01 Jul 2007, 20:08
Re: advice
the new career defined pension is max of 45 years. you can draw your final salary pension which you paid in till a few years ago. but you would lose 5 per cent a year on that. However the new defined paension is only payable at 65.. Sure im right on this...
-
RobertT
- EX ROYAL MAIL
- Posts: 6682
- Joined: 09 Sep 2007, 14:26
- Gender: Male
Re: advice
You can take this at 55 aswell but you will still have to take a 5% hit per year before 65. So in happymachem's case that's 50%!easter bunny wrote: However the new defined pension is only payable at 65.. Sure im right on this...
Links to all RM pension related websites are here