cancel the pension

[post_bitch]

I would like to cancel my pension after finding out a guy got 25k as hsi pension been there 30 years ..

dont really see the point in the short time its an extra tenner a week for me to spend .

how to cancel

[PhilthyPhil]

Phone the pensions helpline 0114 241 4545 and they will give you the address you need to write to in order to opt-out of the pension scheme.

[fishtank]

Or email pensions.helpline@royalmail.com

[IcanthelpthewayIam]

I would like to cancel my pension after finding out a guy got 25k as hsi pension been there 30 years ..

dont really see the point in the short time its an extra tenner a week for me to spend .

how to cancel

you should probably look into this a bit more, cause theres is no way if he was in the final salary scheme for 30 years he only got £25k, he probably got £25k as his lump sum and a fairly good pension, ie approx 30/80ths of his actually final salary (ok the last two years were on the new scheme but its close enough)

wouldnt jump ship until you got all the facts about his situation and yours, cause once you jump you cant get back

[easter bunny]

I would like to cancel my pension after finding out a guy got 25k as hsi pension been there 30 years ..

dont really see the point in the short time its an extra tenner a week for me to spend .

how to cancel

you should probably look into this a bit more, cause theres is no way if he was in the final salary scheme for 30 years he only got £25k, he probably got £25k as his lump sum and a fairly good pension, ie approx 30/80ths of his actually final salary (ok the last two years were on the new scheme but its close enough)

wouldnt jump ship until you got all the facts about his situation and yours, cause once you jump you cant get back

He/She could have been part time for 30 years....

[IcanthelpthewayIam]

I would like to cancel my pension after finding out a guy got 25k as hsi pension been there 30 years ..

dont really see the point in the short time its an extra tenner a week for me to spend .

how to cancel

you should probably look into this a bit more, cause theres is no way if he was in the final salary scheme for 30 years he only got £25k, he probably got £25k as his lump sum and a fairly good pension, ie approx 30/80ths of his actually final salary (ok the last two years were on the new scheme but its close enough)

wouldnt jump ship until you got all the facts about his situation and yours, cause once you jump you cant get back

He/She could have been part time for 30 years....

Still would have got a decent pension if he was in the scheme for 30 years even as part time, and afaik part timers only really came about in the last 10 years or so

[Judgee]

Pfft you think thats bad, you wanna see what the new pension scheme pays out

[easter bunny]

You seriously need to consult a Independent Financial Adviser before taking such a drastic step...

Dont forget the 6% Pensionable Pay is subject to tax relief, so if you pay, say £15 a week into your Pension it is only worth £12 net, if you stopped paying contributions...

Also, if heaven forbid you passed away, your spouse would not receive the generous death in service payment which is 4x Annual pay...

If you fell ill and qualified for IHR with Pension , you would not qualify for an enchanced pension...


Im not a RMPP apologist, but the scheme is still one of the best around in the private sector ( thats right ) and is a lot better than the Government backed NEST which starts in 2012...

Once you decide to leave there is no going back.. You will come to regret the decision later in life...

[sonnyboy]

I agree with Easter bunny,dont do it !!!!

[belle smith]

I agree with Easter bunny,dont do it !!!!

Aye!
Wouldn't even bother with the fianancial advice.
however if you are adament that you want to leave. Then how about i send you £10 per week and get your pension.
BTW you've posted this in the wrong forum.

[Stormproof]

How long have you been with RM? You can only get a % of pension back if less than 3 years I think. If over that time it will be frozen until you retire. I would leave your pension where it is as the government seem to be on the warpath regarding pensions and not just RM.

[easter bunny]

How long have you been with RM? You can only get a % of pension back if less than 3 years I think. If over that time it will be frozen until you retire. I would leave your pension where it is as the government seem to be on the warpath regarding pensions and not just RM.

2 years....

[matt3c]

anyone have any idea how much i would get back if i cancelled my pension? been paying in minimum payment think its about a tenner for exactly one year now but am leaving in january so coulddo with a bit of extra chritmas money? anyone care to help thank you in advance

[fishtank]

anyone have any idea how much i would get back if i cancelled my pension? been paying in minimum payment think its about a tenner for exactly one year now but am leaving in january so coulddo with a bit of extra chritmas money? anyone care to help thank you in advance

Exactly what you paid in plus interest...minus your share of the Contributions Equivalent Premium and 20% tax.

http://www.royalmailpensionplan.co.uk/1 ... tributions" onclick="window.open(this.href);return false;

Not a lot to be honest...probably around £350..ish