How to release funds from a frozen pension

[skid66]

I would like to no how you find the value of a frozen pension.Any advise or phone numbers please.

[Pinky 1]

All the contact details are here .......
http://www.royalmailchat.co.uk/communit ... en#p413565" onclick="window.open(this.href);return false;

[paulkennedy]

could someone please tell me how i can release a frozen pension plan i stopped in 2003 after 12 years of service.... i would like to know if its fifty years of age when you can get bk your money....

[fraser0911]

i hav the same problem
i wa stold you can only get ir when yu r 55

[stodgy88]

took my royalmail pension at 52 ,so cant see your comment been true.

[paulkennedy]

took my royalmail pension at 52 ,so cant see your comment been true.

is there anyway getting what i am owed back.... not sure when to apply

[RobertT]

Under rules introduced in 2006, you have to wait until you're at least 55 to get your pension, unless it's on ill health grounds.

[stodgy88]

i took mine april 2010 ,aged 52.

[fishtank]

i took mine april 2010 ,aged 52.

Lucky you.
Just in time.

http://www.royalmailgroup.com/our-peopl ... 10-archive" onclick="window.open(this.href);return false;

I've heard that you can't take your pension at 50 anymore. Is this true?

The Government has changed the law to increase the Minimum Pension Age (MPA). The MPA is the earliest age at which you can take your pension. MPA is currently age 50. MPA will increase to age 55 from 6 April 2010.
This change means that, from 6 April 2010, you will be unable to take your pension (and any lump sum) unless you are aged 55 or over (except for ill-health retirement).

[RobertT]

oops, got my years mixed up.

[rockinrev]

the taking your pension early at 55 is o.k but your lose 5% for each year you take it early including lump sum. I know as ive recently enquired about taking mine early. due to my concerns that I will get to see any pension by 60 due to r.mail privatization.

[heapsy]

Definitely 55 years of age now. Government rule, nothing to do with RM.

[neilfair]

I appreciate it's the Government who have altered the qualifying age. But is it still at the discretion of the company whether you can get your pension early (55) or not? My family don't exactly have a track record of living to a ripe old age and I'd like to draw mine, even at a reduced rate, as quickly as possible. Will this mean going cap in hand to Royal Mail and having to 'respectfully' request my pension ............ or does it tend to be a foregone conclusion with biggish firms that you can have it at 55 ? I'm an ex employee btw with almost 20 years pensionable service.

[RobertT]

I appreciate it's the Government who have altered the qualifying age. But is it still at the discretion of the company whether you can get your pension early (55) or not? My family don't exactly have a track record of living to a ripe old age and I'd like to draw mine, even at a reduced rate, as quickly as possible. Will this mean going cap in hand to Royal Mail and having to 'respectfully' request my pension ............ or does it tend to be a foregone conclusion with biggish firms that you can have it at 55 ? I'm an ex employee btw with almost 20 years pensionable service.

Taking your pension before normal retirement age has to be agreed by the trustee, but I would have thought that most people will be able to.
More info can be found by downloading the relevant brochure:
http://royalmailpensionplan.co.uk/55/rm ... -brochures" onclick="window.open(this.href);return false;

[neilfair]

Thanks Robert, appreciate the pointer AND the very prompt reply. You are greased lightening