pension book arrives

Post by **arsenalbob** » 08 Nov 2007, 20:50

if you're in pension 'c' you can take part of your pension as a lump sum with a reduced pension, the book received today says you keep ALL benefits built up to april 2008, and my benefits in this year's illustration show this.

madelin4 · Post by **madelin4** » 08 Nov 2007, 21:02

arsenalbob wrote:if you're in pension 'c' you can take part of your pension as a lump sum with a reduced pension, the book received today says you keep ALL benefits built up to april 2008, and my benefits in this year's illustration show this.

When can you take the lump sum if your in pen plan c? is this when you retire or paid of on medical grounds? or sacked!

Post by **arsenalbob** » 08 Nov 2007, 21:08

you can take it on retiring or you can take it at any age over 50 when you leave or are sacked but obviously much less if you take it at say 50 compared to 59

pinstripe · Post by **pinstripe** » 08 Nov 2007, 21:42

Who actually votes on the pension robbery? Is it every CWU member, or just those in the pension scheme? I'm not in it, thank god, but RM and the union sent me their propaganda. Why should I have a say in something which is not my concern (I'll still strike to protect the future welfare of my colleagues). My point is there must be thousands of CWU members not in the pension scheme, if we all have a vote, but don't use it wouldn't that distort the figures downwards. Just a question, but where do I stand? I don't want to be voting on this issue as it should be for pension scheme members only.

Course it could be RM wasting money, again.

DGP1 · Post by **DGP1** » 08 Nov 2007, 22:24

pinstripe wrote:Who actually votes on the pension robbery? Is it every CWU member, or just those in the pension scheme? I'm not in it, thank god, but RM and the union sent me their propaganda. Why should I have a say in something which is not my concern (I'll still strike to protect the future welfare of my colleagues). My point is there must be thousands of CWU members not in the pension scheme, if we all have a vote, but don't use it wouldn't that distort the figures downwards. Just a question, but where do I stand? I don't want to be voting on this issue as it should be for pension scheme members only.

Course it could be RM wasting money, again.

RM will just do whatever they want there will be no votes (just think about the PO closures)

jafferpants · Post by **jafferpants** » 09 Nov 2007, 15:55

Sorry guys it's me the pension bore again. Iv'e said it on other links this is a done deal forget the vote. It even gives you a gentle hint in the covering letter stating all views will be listened to over the consultation period before THE COMPANY MAKES THE FINAL DECISION. This is the same deal that was to be sent to you last july before the daily mirror got hold of it and ran a headline "The great pensions robbery". Nothings changed. They've creamed millions of our money of the scheme with the infamous "pensions holiday" and now we have to pay for .

strangler · Post by **strangler** » 09 Nov 2007, 16:21

And noi mention that I can see of effects on lump sum@60, death in service benefit, widows pension, pension supplement...

davidessex · Post by **davidessex** » 09 Nov 2007, 16:48

the reason rm took a pension holiday was because there was too much in the fund. by law, the fund is only allowed to be a certain percentage higher than the cost of the pensions outgoings. i believe that the pension trustees were responsible for monitoring this and came to the conclusion all those years ago that a pension holiday was inevitable. i also assume they were monitoring it on a regular basis, and discovered recently that there was now a massive shortfall, based on the funds value today, which is dictated by share values ect. so here we are being asked to save the pension because of the current situation. what,s obvious to me is that if we are successful there will be a point reached when the fund is not able to get any bigger, by law, as it was all those years ago. do you think we will then be offered a new pension package ( improved ) because we had been so successful? this could be sooner rather than later if stocks, shares ect go up. or, more likely, another pension holiday, and we will have gone full circle.

Post by **stephen500** » 09 Nov 2007, 16:56

madelin4 wrote:
arsenalbob wrote:if you're in pension 'c' you can take part of your pension as a lump sum with a reduced pension, the book received today says you keep ALL benefits built up to april 2008, and my benefits in this year's illustration show this.
When can you take the lump sum if your in pen plan c? is this when you retire or paid of on medical grounds? or sacked!

If i read the booklet correctly a section c member cannot take any pension supplements till they leave the business.
As to whether that includes a lump sum conversion i am not sure