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Section B deferred member

Royal Mail pension news and discussion.Please note the advise given in this forum is unofficial, please use the links we have for a more detailed response or see an independent financial adviser.
Andy434
Posts: 6
Joined: 22 Jun 2019, 13:24
Gender: Male

Section B deferred member

Post by Andy434 »

Hi all just a quick question. I am a section B deferred member. What is the annual inflationary pension increase based on, is it CPI / RPI and is it capped to a maximum increase? thanks.
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RobertT
EX ROYAL MAIL
Posts: 6645
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: Section B deferred member

Post by RobertT »

RM pensions are never straightforward....... :cry

The RMPP website states section B benefits are increased by CPI, with no mention of a cap.

The RMSPS website says section B benefits are increased by CPI, capped at 5%.

There is also the Guaranteed Minimum Pension(GMP) to consider. See the websites for more info on that.

:cuppa
Links to all RM pension related websites are here
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linntroika
Posts: 75
Joined: 15 Dec 2016, 08:44
Gender: Male

Re: Section B deferred member

Post by linntroika »

I phoned the pension branch today to clarify this , they informed me that it is capped at 5%
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RobertT
EX ROYAL MAIL
Posts: 6645
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: Section B deferred member

Post by RobertT »

linntroika wrote: ↑
09 Aug 2022, 09:07
 I phoned the pension branch today to clarify this , they informed me that it is capped at 5%
Thanks for the clarification. :thumbup
Links to all RM pension related websites are here
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NorthernBoy
EX ROYAL MAIL
Posts: 384
Joined: 27 Sep 2010, 21:08
Gender: Male

Re: Section B deferred member

Post by NorthernBoy »

Does anyone know if section c deferred pension
is capped at cpi 5%?
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RobertT
EX ROYAL MAIL
Posts: 6645
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: Section B deferred member

Post by RobertT »

NorthernBoy wrote: ↑
09 Aug 2022, 18:29
 Does anyone know if section c deferred pension
is capped at cpi 5%?
Section C is RPI but capped at 5%.
Links to all RM pension related websites are here
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NorthernBoy
EX ROYAL MAIL
Posts: 384
Joined: 27 Sep 2010, 21:08
Gender: Male

Re: Section B deferred member

Post by NorthernBoy »

Thanks Rob
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fly-catchers
EX ROYAL MAIL
Posts: 573
Joined: 05 Oct 2008, 16:38
Gender: Male

Re: Section B deferred member

Post by fly-catchers »

NorthernBoy wrote: ↑
09 Aug 2022, 18:29
 Does anyone know if section c deferred pension
is capped at cpi 5%?
If you are still at RM Section C is RPI capped at 5%. If you have left RM as it looks as if you have it changes to CPI capped at 5% but returns to RPI once you start taking it. As an example my NRA60 I have been receiving since 2018 is RPI. But since I left RM in 2020 my NRA65 pension which I have yet to take increases by CPI at the moment. From next year when I reach 65 and start taking it the increase goes back to RPI.
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RobertT
EX ROYAL MAIL
Posts: 6645
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: Section B deferred member

Post by RobertT »

fly-catchers wrote: ↑
10 Aug 2022, 22:55
NorthernBoy wrote: ↑
09 Aug 2022, 18:29
 Does anyone know if section c deferred pension
is capped at cpi 5%?
If you are still at RM Section C is RPI capped at 5%. If you have left RM as it looks as if you have it changes to CPI capped at 5% but returns to RPI once you start taking it. As an example my NRA60 I have been receiving since 2018 is RPI. But since I left RM in 2020 my NRA65 pension which I have yet to take increases by CPI at the moment. From next year when I reach 65 and start taking it the increase goes back to RPI.
Yes, you're correct! :thumbup

My mistake. :oops:
Links to all RM pension related websites are here
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