Retirement Age

[Dorset Plodder]

Must be a nice easy duty if they can still do it at 70 : Applause

No! They just get slower .... and slower .... and slower.

Eventually they just decide they've got something better to do in life.

[mickeymacca]

I would like to see RM offer more job shares, it makes sense in terms of productivity having a workforce recovering for three or four days a week and returning refreshed for their three day week, there is no way some of these 70 hour merchants are value for money from a business perspective, even allowing for sick and holiday pay that an extra employee would cost.
I'd like to think that many will have reconsidered their priorities after this last year, time is a valuable commodity that you can't buy back.

[Cedar_Room]

There will be fewer and fewer jobs in the future.
Youth unemployment which is already high will continue to increase.
An older workforce has less incentive to fight for better terms and conditions.
An older workforce costs more in illness and long term medical conditions.

It's probably one of the dumbest changes in employment law in the last 20 years.

The only people it benefits is pension fund managers as you work yourself into an early grave.

I'll go at the earliest possible opportunity and make way for someone who needs the job more than I do.

Couldn’t agree more!

My old man dropped dead at 61yrs old,a few mere months after going into semi retirement. There’s nothing clever about being the richest man in the graveyard...

[daveyeff]

i might stay on till i'm a 100 then.

What's a couple more years between friends?

[Dorset Plodder]

I'm nearly 46 and have done 27 years on delivery all walking duties I was never a packet/bag driver as I feel that does make a difference as those jobs were for the senior guys and a piece of cake....

I love being a postman yes I know it's changed massively over the years and crap compared to back then but I'm a glass half full type of person! I feel I've been lucky to have had as many good years as I have with Royal Mail and there are plenty of worse things we could do for a living.... But it's so physically draining these days that I really don't see how I've got another 21 years left in me

I've seen a few in my office trying to muddle on into their mid sixties and it looks painful and if you factor how many of their years were spent doing very little us middle aged long term workers are a ticking time bomb regarding hips and knees etc.

This is all just a personal opinion and not a dig at the older workers as I had some pretty easy years when I started in fact 27 years ago I couldn't believe they actually paid us to do so little

That's a VERY Honest post Mark. When you talk to some Oldies you'd think things had got easier over the years.

I agree with your opinion of those "Halcyon Days" When we got rid of the bikes and started doing so much more walking I think it was a BIG shock to the bodies of many Older Posties. It took a while to get used to it, but at least we did have those "Easier" years.

Nowadays the New Starters may have the benefit of being younger (hopefully) but I don't think they're going to last as long. RM really need to think about their Long Term Staff Retention.

[iceman16]

Hi, in rmsp which is amount i would receive ..Final pensionable pay or the current value of my benefit ?

[RobertT]

Hi, in rmsp which is amount i would receive ..Final pensionable pay or the current value of my benefit ?

The RMSPS pension amounts you're likely to receive are the 'current value of annual pension' in the green boxes on pages 4 & 5 of your statement.

The definition of final pensionable pay can be found on page 9.

Bear in mind that the RMSPS statement relates to all your accrued pension up to 31st March 2012. If you were employed by RM after that date, you will presumably have RMPP benefits aswell, which can be found on your RMPP statement.

Both RMSPS and RMPP statements will have figures relating to both your NRA60 and NRA65 benefits.

[priority102]

I'm 60 and I left earlier this year after 25 years to go part time elsewhere. Physical and mental health wise I feel so much better now than I have for years. No point sticking with it until your too old and physically unable to enjoy a bit of life. I know of posties who have done until they drop, retired with a healthy pension and had their funeral within a year. Loyalty is a thing of the distant past, all you are now is a number within a business whose sole 2 goals now are profit and appeasing share holders.

[iceman16]

So If I add RMPP ( CSDB Pension at March 2021 with the CSDB Supplement and cash balance fund ) with RMSPS current value, it should add up to final pensionable pay ?

thank you for helping

[iceman16]

Priority102, totally agree with what you said, my knees and feet are agony, don't think I can go on like this anymore ,pain gets worse every day.

[RobertT]

So If I add RMPP ( CSDB Pension at March 2021 with the CSDB Supplement and cash balance fund ) with RMSPS current value, it should add up to final pensionable pay ?

thank you for helping

Your pensionable pay is how much of your earnings are used when working out your pension entitlement.

Your pension is split between NRA60(up to 2010) and NRA65(2010-2018+cash balance). So to work out how much each element is worth just do this simple bit of maths with the figures on your statements:

NRA60 is made up from the following, just add up the figures as they are on your statements:

RMSPS:
Basic pension + pension supplement + pension increase amount

RMPP:
Final salary addition + supplement addition

NRA65 is made up from the following, again just add up the figures on your statements:

RMSPS:
Basic CSDB pension + CSDB pension supplement + pension increase amount

RMPP:
Basic CSDB pension + CSDB pension supplement

The Cash Balance(DBCBS) is a lump sum that's usually taken along with NRA65 benefits

The supplement(only for section C members) is only payable if you've left RM employment and until state pension age.

For more info see the RMSPS and RMPP websites:

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

[iceman16]

Still not sure, but if i've worked it out right, not alot after 27 years. Though the final pensionable pay was good, shame it wasn't that I would get. once again thank you very much for your help, much appreciated.

[NWpostie]

I plan to leave at 60, I have a life outside of work and plan to use the time to do more of my hobby, I don't see any point staying on as someone said further up, no use being the richest man in the graveyard.

I have a plan in place while saving up a hedge fund, lump sum saving plan, of course my pension, I plan to go to gym in place of work and focus on improving myself, see friends, families, travel, expand my mind and gain new friends.

[cpsteve]

I plan to leave at 60, I have a life outside of work and plan to use the time to do more of my hobby, I don't see any point staying on as someone said further up, no use being the richest man in the graveyard.

I have a plan in place while saving up a hedge fund, lump sum saving plan, of course my pension, I plan to go to gym in place of work and focus on improving myself, see friends, families, travel, expand my mind and gain new friends.

Well done its good that you could save enough to retire, its tough to save for some people when the rent is £1000 plus a month if you live in london its more the way the cost of living is going most average wage earners will be working till 67 and still not have a lifestyle they would want. I feel for the younger people its so much harder for them then it was for us older people.

[NWpostie]

I plan to leave at 60, I have a life outside of work and plan to use the time to do more of my hobby, I don't see any point staying on as someone said further up, no use being the richest man in the graveyard.

I have a plan in place while saving up a hedge fund, lump sum saving plan, of course my pension, I plan to go to gym in place of work and focus on improving myself, see friends, families, travel, expand my mind and gain new friends.

Well done its good that you could save enough to retire, its tough to save for some people when the rent is £1000 plus a month if you live in london its more the way the cost of living is going most average wage earners will be working till 67 and still not have a lifestyle they would want. I feel for the younger people its so much harder for them then it was for us older people.

Indeed I do see your point, I'm very fortunate to have brought my house before prices went stupid, my mortgage is now paid off, I do of course appreciate not everybody in London is as fortunate or indeed outside of London, I consider myself fortunate and do appreciate how lucky I am, of course I do feel for younger people who are struggling, I don't know the solution and do not pretend to know.