Does supplement increase?

[RobertT]

The RMPP pays Age65 pension benefits built up between 2012-2018, which includes supplement accrued during that time.

[spaceman07]

I was quoted £1500 supplement from capita alone when I took all my pension at 55. I'm still at RM and now over 58, if that was to change would the supplement increase from 55, decrease or stay the same?

[heapsy]

The RMPP pays Age65 pension benefits built up between 2012-2018, which includes supplement accrued during that time.

Mines a staggering £56 per year.

[RobertT]

I was quoted £1500 supplement from capita alone when I took all my pension at 55. I'm still at RM and now over 58, if that was to change would the supplement increase from 55, decrease or stay the same?

As far as I'm aware, once you leave RM you'll get however much supplement you would have got at the time of taking your pension.
It then stops when you reach state pension age.

[RobertT]

The RMPP pays Age65 pension benefits built up between 2012-2018, which includes supplement accrued during that time.

Mines a staggering £56 per year.

Considering how it worked, that's probably how much Age65 supplement all full timers built up each year.

[spaceman07]

I was quoted £1500 supplement from capita alone when I took all my pension at 55. I'm still at RM and now over 58, if that was to change would the supplement increase from 55, decrease or stay the same?

As far as I'm aware, once you leave RM you'll get however much supplement you would have got at the time of taking your pension.
It then stops when you reach state pension age.

Thanks Robert, after contacting them you get the supplement quoted at the time of taking your pension regardless of when you leave plus the % increase however much your pension has gone up since then. Supplement goes up in line with pension increases, in my case though I'm still at RM for now so obviously won't receive the supplement yet.

[Gary55]

Did you have to contact them both for the figure quoted

[spaceman07]

Did you have to contact them both for the figure quoted

Capita deal with the vast majority of the supplement, it will be quoted on your options when you receive them. It depends on when you leave when that kicks in.

[david3595]

Apoliges if this has been asked before, if you took your NRA60 at 55 with the 25% deduction would the supplement for Section C members also have been reduced. I have asked RMSPS can they give me a value of the NRA60 supplement now at 61 but they say they can’t unless I leave Royal Mail.

[RobertT]

My understanding is it is reduced a little, but broadly speaking you get a similar amount of supplement in total if you take your pension early, but it's spread over a longer period of time.

For example, if your Age60 supplement is £1,000 per year at 60, if might be around £560 at 55 because it's being paid out for 12 years instead of 7. Based on a state pension age of 67.

[comeracing]

I was quoted £2k a year supplement if I left RM. Does this increase every year in line with the pension or is it fixed till state retirement age ?

How many years you got in please for that 2k figure