New Calculator on website - very useful

[NorthernBoy]

So I sent an email to rmpp and as expected the calculator only applies to your post 2012 benefits.

However, my thoughts are that the calculator should still give you a fairly accurate picture if you put in your capita figures.

I believe the early reduction factors will be similar (or same) for both schemes, even though administered separately.

Am I missing something here in thinking this way?

[RobertT]

It's possible it might work to some degree, but it all comes down to how RMSPS/Capita present your figures(which will depend on your member status) and whether they can be manipulated into the calculator.

Based on section C:

1. Current employee annual statement – The figures aren't compatible with the calculator due to total inflationary increases being expressed as one whole number(the 'pension increase amount') instead of being separated into current pension and supplement values. So that's a non starter!

2. Preserved pension update provided shortly after leaving the company - Figures are separated into supplement and total benefits, so a simple subtraction can find the pension amount, but they're not separated into Age60 and Age65 figures. The more Age60 you have, the more accurate it's likely to be.

3. Deferred annual statement - I can't comment as I haven't had one yet and don't know how the figures are set out.

[NorthernBoy]

I asked the rmsp team for more information about how they calculated the benefits for the illustrator and this was their reply

Firstly, with regards to the online Pension Illustrator, this service can only generate a rough estimate of pension benefits, and should not be taken as a guarantee. Your Annual Benefit Statement, and later on, your Options Forms, will give you the most accurate representation of your pension benefits.


I have asked then when they will include nra65 benefits to which I am awaiting a reply. The website for the RMPP is far superior to the rmsp one, I think they could do alot worse then copying what information they provide.

Will update if I get any more info.

[freespeech]

what's pension website address please?

https://www.royalmailpensionplan.co.uk/

Waste of time....takes no account of DBCBS or your AVC's.