LTB 396/21 - Royal Mail Collective Pension Plan - Members' Consultation

[NWpostie]

I preferred Growth, lifestyle is doesn't suit me at this present time.

[RobertT]

We received a letter in June 2024 explaining about the Royal Mail Collective Plan and AVCs.
It mentioned that any AVCs will be invested into the Collective Plan's default AVC Lifestyle Strategy and this can be changed after joining.

Any idea how I go about looking into this and changing it?

Waiting for this info myself - i would think we will get something by post in the new couple of weeks.
Although i have seen mention of a self-service portal coming soon (assuming means pension website to check pension/details/change funds etc etc.

Going by the info in the AVC handbook and on the SW RMCPP AVC site, they'll be in touch with login details. You'll then be able to change your investments via the money4life website.
You get a choice of five funds!

RMCPP SW site: https://www.scottishwidows.co.uk/save/r ... anavc.html
Info page 1: https://adviser.scottishwidows.co.uk/as ... portal.pdf
Info page 2: https://adviser.scottishwidows.co.uk/as ... 1941sw.pdf

There's also contact details for SW RM Pensions Team on page 18 of the AVC handbook. Maybe worth a call or email to ask about login info?

[Hyrrokkin]

We received a letter in June 2024 explaining about the Royal Mail Collective Plan and AVCs.
It mentioned that any AVCs will be invested into the Collective Plan's default AVC Lifestyle Strategy and this can be changed after joining.

Any idea how I go about looking into this and changing it?

Waiting for this info myself - i would think we will get something by post in the new couple of weeks.
Although i have seen mention of a self-service portal coming soon (assuming means pension website to check pension/details/change funds etc etc.

Going by the info in the AVC handbook and on the SW RMCPP AVC site, they'll be in touch with login details. You'll then be able to change your investments via the money4life website.
You get a choice of five funds!

RMCPP SW site: https://www.scottishwidows.co.uk/save/r ... anavc.html
Info page 1: https://adviser.scottishwidows.co.uk/as ... portal.pdf
Info page 2: https://adviser.scottishwidows.co.uk/as ... 1941sw.pdf

There's also contact details for SW RM Pensions Team on page 18 of the AVC handbook. Maybe worth a call or email to ask about login info?

[Krafty]

Had a letter in the post today about this matter from Scottish Widows.

[SPECIALTRACKED]

Sorry if I’m being stupid here, I started 10 years ago, so where does the money go that was in previous scheme? Does it just sit idle until your are eligible to get it, does it get interest? Can I move it ?

[Jaggs]

Sorry if I’m being stupid here, I started 10 years ago, so where does the money go that was in previous scheme? Does it just sit idle until your are eligible to get it, does it get interest? Can I move it ?

You would have started in the defined contribution pension. Any money paid into that will continue to be invested with Scottish Widows. Did you opt to join the cash balance scheme at any time? If you did that should continue to have increases in its value added at the discretion of the trustees.

You can move what is in the defined contribution plan to another pension as I've just done that myself

[dudius]

You would have started in the defined contribution pension. Any money paid into that will continue to be invested with Scottish Widows. Did you opt to join the cash balance scheme at any time? If you did that should continue to have increases in its value added at the discretion of the trustees.

You can move what is in the defined contribution plan to another pension as I've just done that myself

How do you go about this?
I get the occasional newsletter from the DC scheme, but I don't recall ever having any login for it. I'd like to have a bit more control/oversight of this (admittedly small) portion of my money.

[RobertT]

You would have started in the defined contribution pension. Any money paid into that will continue to be invested with Scottish Widows. Did you opt to join the cash balance scheme at any time? If you did that should continue to have increases in its value added at the discretion of the trustees.

You can move what is in the defined contribution plan to another pension as I've just done that myself

How do you go about this?
I get the occasional newsletter from the DC scheme, but I don't recall ever having any login for it. I'd like to have a bit more control/oversight of this (admittedly small) portion of my money.

First you need a personal pension to transfer it into, then get in touch with the SW RM Team to start the process. Their contact details are in the RMDCP plan guide.