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Pension query

Postal workers discussion forum. Discuss the day to day life in a Blue Shirt.
ronaldo
Posts: 32
Joined: 19 Oct 2007, 17:56

Post by ronaldo »

Today my mate was quoted by pension 1.64% for each year of contributory pay.You are already paying 6% which is about £15 so about £11 aweek for his 2 years and 190 days to make his 40.it says 1.64% of contributory pay for each year.probably in the region of £45 a week for 11 years
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arsenalbob
EX ROYAL MAIL
Posts: 338
Joined: 17 Jun 2007, 15:34

Post by arsenalbob »

thanks for that mate, best if i give them a call
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strangler
Posts: 441
Joined: 07 Jun 2007, 15:43

Post by strangler »

Got my pension statement today. 14 years service, 16 to do (in theory).
Basic £19k
If I retire at 60 (and with pay rises@RPI) I lose £1,140 per year=£22 per week
Alternatively I can work an extra 2years 6 months for same benefits as now. Thanks for the choice 'guys'. :sad:

That`s without any lump sum calculations, etc which I don`t know how are affected by this. Ditto for pension supplement too.

Why they put in figures for a pay rise 1% above RPI I don`t know, hardly likely is it :crazy:
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