Pensions

stephen5708 · Post by **stephen5708** » 04 Jan 2017, 20:15

Hearing that there will be big announcement tomorrow re the DB scheme, anyone any the wiser?

Binsey · Post by **Binsey** » 04 Jan 2017, 21:13

http://www.royalmailchat.co.uk/communit ... 27&t=77942" onclick="window.open(this.href);return false;

Binsey · Post by **Binsey** » 05 Jan 2017, 07:41

Seems it's today. It's all over the London CWU Branches FB pages.

Here we go.

Post by **RobertT** » 05 Jan 2017, 08:03

The sh!t has indeed hit the fan:

Info: http://www.royalmailchat.co.uk/communit ... 27&t=77942" onclick="window.open(this.href);return false;

Q&As: http://www.royalmailchat.co.uk/communit ... 27&t=77960" onclick="window.open(this.href);return false;

robsbelly · Post by **robsbelly** » 05 Jan 2017, 15:42

Iv just looked at my pension if it was changed to the new defined contribution. When I retire I will lose £1800 a year if I live to 80 I could lose nearly £40000 over my retirement.Royal mail want to give us £750 as a sweetner.what a load of s##t.as they have said themselves the pension as it stands now is in surplus.they are now robbing us of our dignity.

robsbelly · Post by **robsbelly** » 05 Jan 2017, 15:44

I don't think Moyra's pension will be defined contribution.

rubberbond · Post by **rubberbond** » 05 Jan 2017, 15:51

Who is in which scheme and from when?

Post by **RobertT** » 05 Jan 2017, 16:06

robsbelly wrote:I don't think Moyra's pension will be devine contribution.

She seems to think she's some kind of goddess, so you never know.

Martin Walsh · Post by **Martin Walsh** » 05 Jan 2017, 19:59

If you were in the job before 2008 you are in the defined benefit scheme where you pay 6% and Royal Mail pay 17.1%. This is the scheme they want to close and transfer the 90 thousand members into the Defined contribution scheme. As part of this they would reduce their contributions to 10%.

Any employee who either joined after 2008 are in the defined inferior scheme equally there are thousands who are in receipt of their Royal Mail pension who been auto-rolled into the DC scheme based on the new law.

goldy · Post by **goldy** » 06 Jan 2017, 20:59

Its interesting in my case as I joined the RMPP before 1st April 2008 by quite a bit but then they automatically enrolled me into the new scheme (defined benefits) is this or was this normal at the time?

Post by **TrueBlueTerrier** » 07 Jan 2017, 15:42

goldy wrote:Its interesting in my case as I joined the RMPP before 1st April 2008 by quite a bit but then they automatically enrolled me into the new scheme (defined benefits) is this or was this normal at the time?

Yes everyone on the RMPP and not drawing it were switched over to the defined benefits scheme in 2008.

Post by **RobertT** » 07 Jan 2017, 16:09

goldy wrote:Its interesting in my case as I joined the RMPP before 1st April 2008 by quite a bit but then they automatically enrolled me into the new scheme (defined benefits) is this or was this normal at the time?

If you started before 1st April 2008 you should be in Section C of the RMPP(defined benefits) unless they didn’t auto enrol you for some reason at the time or if you actually opted out. In which case you’ll have been auto enrolled into the RMDCP(defined contribution) probably around 2012.

TrueBlueTerrier wrote:Yes everyone on the RMPP and not drawing it were switched over to the defined benefits scheme in 2008.

Err no!
Everyone who was in the RMPP on 31st March 2008 will still be in it, unless they’ve since opted out.
New entrants from 1st April 2008 or anyone who opted out of the RMPP before that date will be in the RMDCP, unless of course they’ve also opted out of that.

k979aaa · Post by **k979aaa** » 07 Jan 2017, 20:34

We should fight this imposition upon us all even managers who stand to lose more than us all. As this was not the first time nor will it be the last time they come for our pensions and when I mean they the greedy globalists whom suck our rights and hard earned privileges away for their power trip politics and warped vision of the world!

goldy · Post by **goldy** » 09 Jan 2017, 04:20

RobertT wrote:
goldy wrote:Its interesting in my case as I joined the RMPP before 1st April 2008 by quite a bit but then they automatically enrolled me into the new scheme (defined benefits) is this or was this normal at the time?
If you started before 1st April 2008 you should be in Section C of the RMPP(defined benefits) unless they didn’t auto enrol you for some reason at the time or if you actually opted out. In which case you’ll have been auto enrolled into the RMDCP(defined contribution) probably around 2012.

TrueBlueTerrier wrote:Yes everyone on the RMPP and not drawing it were switched over to the defined benefits scheme in 2008.
Err no!
Everyone who was in the RMPP on 31st March 2008 will still be in it, unless they’ve since opted out.
New entrants from 1st April 2008 or anyone who opted out of the RMPP before that date will be in the RMDCP, unless of course they’ve also opted out of that.

Im pretty sure I did t opt out so I must have been auto enrolled .

goldy · Post by **goldy** » 09 Jan 2017, 04:21

RobertT wrote:
goldy wrote:Its interesting in my case as I joined the RMPP before 1st April 2008 by quite a bit but then they automatically enrolled me into the new scheme (defined benefits) is this or was this normal at the time?
If you started before 1st April 2008 you should be in Section C of the RMPP(defined benefits) unless they didn’t auto enrol you for some reason at the time or if you actually opted out. In which case you’ll have been auto enrolled into the RMDCP(defined contribution) probably around 2012.

TrueBlueTerrier wrote:Yes everyone on the RMPP and not drawing it were switched over to the defined benefits scheme in 2008.
Err no!
Everyone who was in the RMPP on 31st March 2008 will still be in it, unless they’ve since opted out.
New entrants from 1st April 2008 or anyone who opted out of the RMPP before that date will be in the RMDCP, unless of course they’ve also opted out of that.

Im pretty sure I did t opt out so I must have been auto enrolled .