New look RM pension website

[RobertT]

For members of the RMPP sections A, B & C

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

[Poshpost]

We have posters in are office which refer to paying extra money into the CSDB pension, it states that a an extra contribution of £8.00 is actually worth £27.50 because of tax relief and contributions from Royal Mail. I have tried to find out how you would go about making extra contributions via the website detailed on the poster, http://www.howgoodisthat.co.uk" onclick="window.open(this.href);return false;, however it is not at all clear from the information contained on the website what process should be followed. Anybody got any ideas?

[RobertT]

We have posters in are office which refer to paying extra money into the CSDB pension, it states that a an extra contribution of £8.00 is actually worth £27.50 because of tax relief and contributions from Royal Mail. I have tried to find out how you would go about making extra contributions via the website detailed on the poster, http://www.howgoodisthat.co.uk" onclick="window.open(this.href);return false;, however it is not at all clear from the information contained on the website what process should be followed. Anybody got any ideas?

You will need to fill in a 'choices form' or just phone up Zurich - http://www.zurich.co.uk/worksavings/faqs/" onclick="window.open(this.href);return false;

[fly-catchers]

Have they disabled this site for the moment? Yesterday I was able to access the whole site. But late last night and still today if I click on the link I only get Royal Mail Pension Plan logo and nothing else! And Front page as the description in the web site bar at the top of the browser.
At least it clarified something for me. That the RMPP final salary part up to March 2008 is still based on your actual final salary. For some reason I had assumed it was locked in to whatever your salary was in 2008 and them replaced by the career average pension plan.

[RobertT]

Have they disabled this site for the moment? Yesterday I was able to access the whole site. But late last night and still today if I click on the link I only get Royal Mail Pension Plan logo and nothing else! And Front page as the description in the web site bar at the top of the browser.

The site works ok for me.

At least it clarified something for me. That the RMPP final salary part up to March 2008 is still based on your actual final salary. For some reason I had assumed it was locked in to whatever your salary was in 2008 and them replaced by the career average pension plan.

Actually it isn’t! Up to 1st April 2014 the pension increased with earnings but from that date our actual pay and pensionable pay were de-linked and increase independently. Now our pensionable pay increases by RPI up to a maximum of 5%. We all received a booklet about it at the time.

So good old Royal Mail have launched a shiny new website but have got the information wrong!

[fly-catchers]

Have they disabled this site for the moment? Yesterday I was able to access the whole site. But late last night and still today if I click on the link I only get Royal Mail Pension Plan logo and nothing else! And Front page as the description in the web site bar at the top of the browser.

The site works ok for me.

At least it clarified something for me. That the RMPP final salary part up to March 2008 is still based on your actual final salary. For some reason I had assumed it was locked in to whatever your salary was in 2008 and them replaced by the career average pension plan.

Actually it isn’t! Up to 1st April 2014 the pension increased with earnings but from that date our actual pay and pensionable pay were de-linked and increase independently. Now our pensionable pay increases by RPI up to a maximum of 5%. We all received a booklet about it at the time.

So good old Royal Mail have launched a shiny new website but have got the information wrong!

The site is back up for me. My ISP is playing up so think that was more at fault. Though still get only a logo and search box on this link http://www.royalmailpensionplan.co.uk/" onclick="window.open(this.href);return false;
I thought that RPI had replaced the actual final salary. Though began to wonder whether the RPI only applied to the career average pension rather than the original final pension! And I am sure I have read that they wanted to use CPI rather than RPI at one point. I have learnt more about pensions these last 12 months than ever before. Helped in no small way to you Robert. :)
My EVR is on hold as the union is against it as there is a disagreement at another office where part timers had been promised to be made up to full timers and have not been. So I am working on the idea I will retire when I am 60 instead! And any earlier is a bonus..

[postie2007]

Please can anyone confirm if the £8 quoted as per WOW poster is set up as an AVC or the normal pension contribution taken from wages increased.

[RobertT]

Please can anyone confirm if the £8 quoted as per WOW poster is set up as an AVC or the normal pension contribution taken from wages increased.

The WOW thing only applies to people who joined RM after April 2008 or who failed to join the RM Pension Plan before that date, and therefore are eligible to join the RM Defined Contribution Pension or don’t currently pay in the maximum amount into the RMDCP .

If you are already in the RMPP your only option is to pay AVC’s via Flexiplan and/or Bonusplan(section c only), you can’t also join the RMDCP. More info on AVC’s: http://www.royalmailpensionplan.co.uk/s ... an/library" onclick="window.open(this.href);return false;

More info on the RMDCP: http://www.zurich.co.uk/worksavings/retirement/" onclick="window.open(this.href);return false;

[fly-catchers]

At least it clarified something for me. That the RMPP final salary part up to March 2008 is still based on your actual final salary. For some reason I had assumed it was locked in to whatever your salary was in 2008 and them replaced by the career average pension plan.

Actually it isn’t! Up to 1st April 2014 the pension increased with earnings but from that date our actual pay and pensionable pay were de-linked and increase independently. Now our pensionable pay increases by RPI up to a maximum of 5%. We all received a booklet about it at the time.

So good old Royal Mail have launched a shiny new website but have got the information wrong!

I contacted the Pension Helpline about the confusing information over the final salary calculations and got this reply- "You are correct that the since April 1st 2014, your pensionable pay for final salary has been increasing by the retail price index – RPI (taken each year in September) with a capped limit of 5%. However In addition, any allowances or bonuses which are deemed pensionable are then added to this figure, also a change in position may or may not affect the Final Salary Pensionable Salary. Given this your current pay and employment can in some circumstances effect the Final Salary Pensionable Salary." This is still not made clear by their illustration or new website so like everything with RM it is never as good as it sounds!

[RobertT]

We did all get a booklet about it a year or two ago now and there is at least 1 pdf file on MyRoyalMail about it: https://www.myroyalmail.com/node/4330" onclick="window.open(this.href);return false; but all the info really should be available in one place and be up to date!