quick question

[RobertT]

Hello, how is the supplement worked out if you decide to leave RM -thanks

Taken from the Section C ‘Guide To Leaving The Plan’, available here: http://www.royalmailpensionplan.co.uk/s ... an/library" onclick="window.open(this.href);return false;

For your pensionable service up to and including 31 March 2008:
1/60th of the average Lower Earnings Deduction in force from time to time over the period during which final pensionable pay is determined for each year of pensionable service completed before 1 April 2008; plus

For your pensionable service on and after 1 April 2008:
1/60th of the Lower Earnings Deduction in force for the 12 months up to and including the 31 March before your last day of service.

If you take any of your benefits including the supplement, before the normal retirement ages of 60 & 65 a reduction of 5% per year will apply.

[stodgy88]

Thanks for reply ,but not much wiser ,been at RM 30 years ,20 years full time ,10 on around 30 thirty hours,took pension at 53 ,so will try and work out

[RobertT]

Thanks for reply ,but not much wiser ,been at RM 30 years ,20 years full time ,10 on around 30 thirty hours,took pension at 53 ,so will try and work out

If you’ve been at RM for 30 years you’ll presumably be in Section B of the RMPP? If that’s the case, you don’t get a supplement anyway.

[stodgy88]

Glad i read that,before i spent the next 10 hours trying to work it out cheers.