transfer an old pension in my royalmail pension

[claystones]

Just wondering are we allowed to transfer a pension we have built up with another company into our Royalmail pension

[redlen]

Anything to do with pensions you need to speak to an independent financial adviser.
To give financial advice when not qualified is illegal so take my comments with a pinch of salt as only personal opinion

Yes you can, but why would you want too??

The Royal Mail final salary scheme has ended and the new CDC pension is nothing more than a glorified Ponzi Scheme similar to the endowment savings policies sold by mortgage companies that crashed


You are being told the final salary was unsustainable due to people living longer?
That is B%%%%%ks

The real reason is the majority of staff are now part time with lower contributions being made.

The pension contributions you are currently making is paying a pension to those that have already retired

[redlen]

https://www.thisismoney.co.uk/money/pen ... cheme.html

[claystones]

Thanks for the reply Redlen

[RobertT]

Just wondering are we allowed to transfer a pension we have built up with another company into our Royalmail pension

It'll depend which RM pension you're in.

If you're in the RMDCP via Scottish Widows, then you probably can transfer in another DC pension - contact SW for clarification.
But it's not possible to transfer in a DB pension.

If you're in the RMPP/RMSPS, then it's not possible to transfer in any other pension.

[RobertT]

Anything to do with pensions you need to speak to an independent financial adviser.
To give financial advice when not qualified is illegal so take my comments with a pinch of salt as only personal opinion

Yes you can, but why would you want too??

See my post above.

The info on whether transfers are allowed is included in the plan guides – it's a yes or no and does not constitute giving advice.

The Royal Mail final salary scheme has ended and the new CDC pension is nothing more than a glorified Ponzi Scheme similar to the endowment savings policies sold by mortgage companies that crashed


You are being told the final salary was unsustainable due to people living longer?
That is B%%%%%ks

The real reason is the majority of staff are now part time with lower contributions being made.

The final salary scheme closed in 2008 and you're still going on about it? Time to move on, I think!

The pension contributions you are currently making is paying a pension to those that have already retired

That is simply not true!

The RMSPS is funded by the government/taxpayer.
The RMPP is in surplus and currently has enough cash to pay everyone's benefits.
Payments into the DBCBS go into the DBCBS.
The CDC won't be allowed to have a deficit or a surplus, as our pensions will rise and fall with the investments.