PENSION

[dante]

Hi,been with royal mail nearly a year now and have been sent some booklets on joining the pension scheme.Question is...is it worth it


Thanks in advance

[martin2nd]

yes it is ,You will be glad you did one day.

[arnold cheshire]

Hi,been with royal mail nearly a year now and have been sent some booklets on joining the pension scheme.Question is...is it worth it


Thanks in advance

i wouldnt bother what with the pension defecit and now you cant claim it till your 65 when it was 60 terrible thing to do the workers

[dvbuk55]

Hi,been with royal mail nearly a year now and have been sent some booklets on joining the pension scheme.Question is...is it worth it


Thanks in advance

Yes it is worth it regardless of when you can draw it, be it 65,66,67 or 68 you will need a source of income other than the old age pension. Looking on the dark side should anything happen to you then your wife will receive a lump sum plus a portion of your pension and if you had to retire early through ill health you would get your pension. Look on it as an insurance policy of sorts.

[arnold cheshire]

Hi,been with royal mail nearly a year now and have been sent some booklets on joining the pension scheme.Question is...is it worth it


Thanks in advance

Yes it is worth it regardless of when you can draw it, be it 65,66,67 or 68 you will need a source of income other than the old age pension. Looking on the dark side should anything happen to you then your wife will receive a lump sum plus a portion of your pension and if you had to retire early through ill health you would get your pension. Look on it as an insurance policy of sorts.

lets hope we can draw it .. you could get a cheaper life insurance policy for a lump sum

[arnold cheshire]

full time is about 18 quid a week can someone part time tell me how much they pay ???

[zipmeister]

Hi I do 33.45 hours a week and my pension contribution is £14.78

[dvbuk55]

Hi,been with royal mail nearly a year now and have been sent some booklets on joining the pension scheme.Question is...is it worth it


Thanks in advance

Yes it is worth it regardless of when you can draw it, be it 65,66,67 or 68 you will need a source of income other than the old age pension. Looking on the dark side should anything happen to you then your wife will receive a lump sum plus a portion of your pension and if you had to retire early through ill health you would get your pension. Look on it as an insurance policy of sorts.

lets hope we can draw it .. you could get a cheaper life insurance policy for a lump sum

You won't need the money when you're dead, bringon, you need it to live on. Believe it or not 65 isn't old, it's the new 50. The more money you put aside for later life the more comfortable your retirement will be...... and it will come...............all too soon

[Lincox]

There is no set weekly premium deductible, as the amount you pay is also based on overtime as well.

[Judgee]

Definitely worth it if you live long enough to collect it. But RM are desperately trying to kill off it's workforce as it's cheaper than EVR so it could be classed as a minor gamble!

[PhilthyPhil]

There is no set weekly premium deductible, as the amount you pay is also based on overtime as well.

Yes there is a fixed contribution. It is 6% of your contributory pay (basic pay minus lower earnings deduction). Some allowances are also pensionable, although most are not. Overtime is not pensionable.

[AnotherLimey]

Hi,been with royal mail nearly a year now and have been sent some booklets on joining the pension scheme.Question is...is it worth it


Thanks in advance

i wouldnt bother what with the pension defecit and now you cant claim it till your 65 when it was 60 terrible thing to do the workers

Put your fingers in your ears and go la la la la la and ignore the above nonsense

[wandle]

Definitely worth it if you live long enough to collect it.

Join the pension scheme and http://www.youtube.com/watch?v=WlBiLNN1NhQ" onclick="window.open(this.href);return false;

I mean, can you risk having only the poxy State pension to live off if you do reach the age where you can draw your RM pension ? The cost of electricity, gas etc could be a lot worse by then if them barstewards keep raising prices 15% when wholesale prices rise, and cutting them by only 5% when wholesale prices fall

[RobertT]

i wouldnt bother what with the pension defecit and now you cant claim it till your 65 when it was 60 terrible thing to do the workers

New starters qualify for the the money purchase pension scheme when they reach 1 years service, which they can draw from 55 if they chose.
Members of the final/career salary schemes(began service before 2008) can also draw from 55 but have to take a 5% reduction per year.

[RobertT]

There is no set weekly premium deductible, as the amount you pay is also based on overtime as well.

Overtime is NOT pensionable but you can choose to make AVC's if you want.