Statements

[freespeech]

…..are beginning to hit doormats today.

[RobertT]

I got mine on Tuesday

[Steve_claret]

Only had RMPP so far.

[Gary55]

Wonder they didn't cancel them to save a few pennies

[postie2007]

Hi
Anybody know if supplements reduce if you take benefits early.

TIA

[linntroika]

Interestingly my NRA65 value on the statement was considerably less than the actual that i was quoted last Xmas - seems a bit strange

[freespeech]

Had a proper look at mine now (RMPP).....NRA60 pension addition is less than half what it was in 2021. Has anyone else had theirs go down?

[RobertT]

Had a proper look at mine now (RMPP).....NRA60 pension addition is less than half what it was in 2021. Has anyone else had theirs go down?

Yes, mine has shrunk considerably.

I was expecting it to go up by a similar amount as it did last year(compared to 2020), but has actually reduced drastically.

It's gone down to just 6% of last years value!

[freespeech]

Had a proper look at mine now (RMPP).....NRA60 pension addition is less than half what it was in 2021. Has anyone else had theirs go down?

Yes, mine has shrunk considerably.

I was expecting it to go up by a similar amount as it did last year(compared to 2020), but has actually reduced drastically.

It's gone down to just 6% of last years value!

Any thoughts why it's reduced Robert?

[BenacreNick]

Mine is zero ?

I suspect high inflation, Putin and the resulting inter-linked Global Economy is the answer Freespeech.

[BenacreNick]

Mine is zero (gulp)?

I suspect high inflation, Putin and the resulting inter-linked Global Economy is the answer Freespeech.

[BenacreNick]

And as suggested before - I still find it unsatisfactory that we have multiple pension statements from multiple sources.

[freespeech]

Mine is zero ?

I suspect high inflation, Putin and the resulting inter-linked Global Economy is the answer Freespeech.

I thought NRA60 was effectively closed so just "grows" each year with inflation? How can it reduce?

[RobertT]

Any thoughts why it's reduced Robert?

I thought NRA60 was effectively closed so just "grows" each year with inflation? How can it reduce?

I believe the answer is indeed due to inflation, and how that compares with increases in final salary pensionable pay.

I refer you to the info above and to the right of your 'Age60 final salary addition' figures on your pension illustration.

I could be wrong, but I think at least some of what is no longer payable by the RMPP will actually be paid by the RMSPS instead.

Final salary pensionable pay for section C members is defined in the member guide to benefits, as your basic pay on 1st April 2014 plus any increases the company deem pensionable. That info can be found here: https://www.royalmailpensionplan.co.uk/ ... v3.3-1.pdf

Also bear in mind that increases to pensions go up with inflation(RPI) each year, but that is limited to 5%. Which applies before they're taken aswell as in payment.

[RobertT]

And as suggested before - I still find it unsatisfactory that we have multiple pension statements from multiple sources.

It is.
But as the PSC and Capita seem unable to work together to provide one statement, the only way it's going to change for NRA60 & NRA65 benefits, is if the Cabinet Office award the RMSPS contract back to the PSC, which is due for renewal in 2024 I think.