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NRA 60 Benefits Options
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Jefferson Starfish
- Posts: 899
- Joined: 12 Aug 2011, 15:32
- Gender: Female
- Location: Greendale DO
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robking
- Posts: 236
- Joined: 19 Dec 2020, 12:14
- Gender: Male
Re: NRA 60 Benefits Options
The fund that will pay everybody £900 if CWU members vote in favour of the deal is coming from a sort of insurance policy that the company took out when the RMSPS first started.
It was intended to be used if the remaining RMPP didn't perform well and needed to be topped up so that it could fulfil it's obligations.
In the event the RMPP has performed well and it is now in robust health so the money can now be used by the company to reward employees if it wants to.
I suppose if people have voted No to the deal the company will keep the money, it is their money, not the pension fund's although the pension fund trustees had to asked to confirm that they wouldn't be needing it.
It was intended to be used if the remaining RMPP didn't perform well and needed to be topped up so that it could fulfil it's obligations.
In the event the RMPP has performed well and it is now in robust health so the money can now be used by the company to reward employees if it wants to.
I suppose if people have voted No to the deal the company will keep the money, it is their money, not the pension fund's although the pension fund trustees had to asked to confirm that they wouldn't be needing it.
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robking
- Posts: 236
- Joined: 19 Dec 2020, 12:14
- Gender: Male
Re: NRA 60 Benefits Options
Just heard that CWU members have voted in favour of the deal so that £900 will be paid I believe on 29th of September, the other £500 and the 6% pay rise (backdated to April) should come in well before then.