I worked for RM for 27 years and left 8 years ago. I get a yearly update of whats in my deferred pension plan. My current circumstances are that i am still in full time employment. I appreciate a lot has changed over recent years with RM Pensions but I am now 53 and looking for a diffinitive answer to the question can I take my pension at 55 whilst still working . Also If anyone knows the answer what kind of reduction would I be hit with
Thanks for any advice
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Pension at 55
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silly suffolk
- MAIL CENTRES/PROCESSING
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Re: Pension at 55
don't quote me on this but i think anyone can now take a pension at 55, and the rule of thumb is if you do you lose 25% of said pension.alvblade wrote:I worked for RM for 27 years and left 8 years ago. I get a yearly update of whats in my deferred pension plan. My current circumstances are that i am still in full time employment. I appreciate a lot has changed over recent years with RM Pensions but I am now 53 and looking for a diffinitive answer to the question can I take my pension at 55 whilst still working . Also If anyone knows the answer what kind of reduction would I be hit with
Thanks for any advice
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RobertT
- EX ROYAL MAIL
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- Joined: 09 Sep 2007, 14:26
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Re: Pension at 55
Yes you can.alvblade wrote: I am now 53 and looking for a diffinitive answer to the question can I take my pension at 55 whilst still working.
The reduction can vary but it's generally about 5% for each year before normal retirement age.alvblade wrote:Also If anyone knows the answer what kind of reduction would I be hit with.
More info here:
http://royalmailpensionplan.co.uk/4/section-ab" onclick="window.open(this.href);return false;
Links to all RM pension related websites are here
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heapsy
- Posts: 2949
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- Location: Drinking with Gangsters
Re: Pension at 55
May I add a word of warning. If you take your pension early, and , if at a later date you are unemployed, this will effect your ability to claim benefits. Please be careful. I knew someone who this has happened to. He didn't work for RM but the same rules apply. If you were unlucky to be made redundant you could come unstuck. Big time.alvblade wrote:I worked for RM for 27 years and left 8 years ago. I get a yearly update of whats in my deferred pension plan. My current circumstances are that i am still in full time employment. I appreciate a lot has changed over recent years with RM Pensions but I am now 53 and looking for a diffinitive answer to the question can I take my pension at 55 whilst still working . Also If anyone knows the answer what kind of reduction would I be hit with
Thanks for any advice
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CORTINA
- Posts: 210
- Joined: 29 Jan 2009, 12:10
- Gender: Male
Re: Pension at 55
What ever you do nothing is 100% right....
Some who work to 65 now say if i had drawn my pension at 60 and saved my lump sum and monthly pension received for 5 years ..i would have nearly doubled my pension pot ..instead of leaving it untill 65 and drawing it 5 years later ... you have to make up your own mind what is your motive and wish to do with the money.... you have that choice..
Some who work to 65 now say if i had drawn my pension at 60 and saved my lump sum and monthly pension received for 5 years ..i would have nearly doubled my pension pot ..instead of leaving it untill 65 and drawing it 5 years later ... you have to make up your own mind what is your motive and wish to do with the money.... you have that choice..