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Transferring pension
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bobthepostie
- Posts: 135
- Joined: 24 Mar 2010, 17:41
- Gender: Male
Transferring pension
Anyone able to offer a bit of advice? I'm currently paying x amount into my RM pension. I have a pension from Standard Life from a company i worked for about 10 years ago. Can i transfer the old pension into the RM one? If so how do i go about it? Hopeless with things like this. Any advice appreciated
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barrowc
- EX ROYAL MAIL
- Posts: 383
- Joined: 12 Mar 2010, 01:36
- Gender: Male
Re: Transferring pension
Think it depends which pension you are in. The older career average salary one which closed to new members in 2008 and was partially taken over by the government in 2012 (with RMSPS being the government's part and RMPP being Royal Mail's part) says:
The newer defined contribution one (Royal Mail Defined Contribution Plan) says:Can I transfer into the RMSPS or the RMPP?
Neither the RMSPS nor the RMPP accept transfers from other pension schemes.
See "Guide to benefits (C)" at http://www.royalmailpensionplan.co.uk/5 ... -brochures (assuming section C because you were working elsewhere 10 years ago - sections A and B closed long before that)
Can I transfer benefits from another pension scheme?
It may be possible to transfer benefits into the Plan from previous pension arrangements. Individual transfers are accepted at the Trustees’ discretion. Please contact the Zurich Royal Mail Service Team for further information.
See the plan guide at http://www.zurich.co.uk/royalmaildcplan ... uction.htm or you could call them on 0800 092 8263