Pensioned off

[viking]

Could someone please tell me if when being given IHR with immediate pension, does this include some sort of lump sum as well as a monthly pension.

[daveyeff]

Could someone please tell me if when being given IHR with immediate pension, does this include some sort of lump sum as well as a monthly pension.

think you have to have a minimum of 2 years service, then you are entitled to 34weeks pay, and a payment of P.I.L.O.N.(payment in lieu of notice) which equates to a weeks pay for each year you have in, up to a maximum of 12 weeks. so the maximum you would get would be 34weeks +12weeks pilon. =46weeks pay max. you may recieve a lump sum from your pension on top of this though, that would depend how long you,ve been paying into it, and it also impacts on how much monthly pension you would receive.

[Pinky 1]

Here you go viking, they will be able to answer all your questions


"Contact us

If you have any questions about the Royal Mail Pension Plan (RMPP), then please contact us at the Pensions Service Centre, by email, post or phone:

Email: pensions.helpline@royalmail.com

Write to us at this address:

Pensions Service Centre
PO Box 500
CHESTERFIELD
S49 1WX

Call us on: 0114 241 4545

Postline network users can call on 5456 4545

Whenever you contact us, please include your full name, date of birth and either your National Insurance number or Pension Plan number."

[woofwoof]

might say in here

http://www.royalmailchat.co.uk/communit ... 36&t=36293" onclick="window.open(this.href);return false;

[easter bunny]

Could someone please tell me if when being given IHR with immediate pension, does this include some sort of lump sum as well as a monthly pension.

think you have to have a minimum of 2 years service, then you are entitled to 34weeks pay, and a payment of P.I.L.O.N.(payment in lieu of notice) which equates to a weeks pay for each year you have in, up to a maximum of 12 weeks. so the maximum you would get would be 34weeks +12weeks pilon. =46weeks pay max. you may recieve a lump sum from your pension on top of this though, that would depend how long you,ve been paying into it, and it also impacts on how much monthly pension you would receive.

I have replied to the PM that Viking sent me.

If you are given IHR with Pension you do NOT get the 34 week severance pay - that is only given to IHR with Lump Sum. Also the Notice period is a minimum of 9 weeks whatever service over 2 years you have . The maximum is 12 weeks ( if you have over 10 years service ) - that is paid to anyone who is given IHR, and is Tax/NI free. You will also get any outstanding leave, however Tax/NI is payable on it.

The Tax Free lump sum on your Pension is available no matter how many years you have paid into it.