Pension

[Mishmish1]

Hi I am confused on the new pension rules I started at RM in 1988!and took vr 19 years later can you take 100 percent of your pension in one hit ?

[RobertT]

Hi I am confused on the new pension rules

Do you mean the new rules introduced in April 2015 that allow people with defined contribution pensions to cash them in?

I started at RM in 1988!and took vr 19 years later

Assuming you haven’t already taken your pension, you’ll be a deferred member of Section C of the RMPP then?

can you take 100 percent of your pension in one hit ?

As your RM pension is defined benefit i.e final/career salary and now paid for by the government after it took on the liabilities in 2012, the new rules don’t apply I’m afraid. Your only option, assuming you’re at least 55 is to take your 25% tax free lump sum and commence payment of your monthly pension. Although if you’re under 60, a 5% per year acturial reduction will apply.

This will give you a bit more info on the new pension rules and how it affects you: http://www.royalmailchat.co.uk/communit ... 27&t=69013" onclick="window.open(this.href);return false;