Royal Mail pension news and discussion.Please note the advise given in this forum is unofficial, please use the links we have for a more detailed response or see an independent financial adviser.
Dorset Plodder wrote:I note they're already priming the Dickheads for a bribe....Page 2 "Active Plan members as at 31 March 2018 would be given a one-off £750 payment. if the proposal is implemented".
Most of the idiots in my office would sell their Grannie for that. Over the years they've gradually signed away T & Cs for a few quid here, and a few quid there. They're so bloody short sighted I'm surprised they can see to deliver the mail!
If they were to offer that much as a Bung I'd have thought they'd have at least said, "A payment of £750 will be put into your New Pension Account". I was always told that if you had a bit of money bung it into your Pension pot as it makes a big difference to the end pay out (there's a lot of weekly payments in that £750)
Oh sorry I forget... that's thinking about the long-term benefits to the employee..... we're just trying to bribe them in the short-term!
It does say on page 5 that it could be paid as a PSE pension contribution so no tax or NI (as the rules stand today)
Pretty shoddy deal though.
RobertT wrote:That won't be anywhere near as much as you think it'll be.
Factoring in tax relief, personally I would only have to draw my NRA60 pension for about 3 years to get back the money I've put in over nearly 30 years of service. Everything after that is 'profit'.
That's one of the reasons the RMPP is a very valuable scheme to be a member of.
On reading the booklet don't we have the opportunity of investing our own pension in funds of our own choice. So if you invest wisely surely you could make more money than you would get now. Also maybe your investment choices go badly wrong and you could get less.
Having not received the booklet yet,what does it say about contributions from RM?
