NRA 65

[westy23]

Good morning all and RobertT.
A bit confused still.
I took my nra 60 pension early February 2011 and still working for Royal Mail.
My nra 65 pension is due May 2020.
Will my nra 65 be paid in two parts?.
And can anyone explain how?
Thanks.

[RobertT]

Good morning all and RobertT.

Hi and happy Christmas.

A bit confused still.
I took my nra 60 pension early February 2011 and still working for Royal Mail.
My nra 65 pension is due May 2020.
Will my nra 65 be paid in two parts?.
And can anyone explain how?
Thanks.

Your NRA65 relates to service from 1st April 2010 to 31st March 2018. You will presumably currently be paying into the DBCBS, which started on 1st April 2018 and is due to run until the new CDC scheme is implemented.

As part of the privatisation process, the government took over responsibility for paying the pensions we accrued up to 31st March 2012 – that element is now known as the Royal Mail Statutory Pension Scheme(RMSPS). Although RM are still responsible for paying the inflationary increases associated with that part of our pensions.

RM is solely responsible for paying the pensions we accrued from 1st April 2012 to 31st March 2018, and the DBCBS scheme, which just provides a lump sum to be taken with our NRA65 benefits. That is known as the Royal Mail Pension Plan(RMPP).

So you will get a lump sum and monthly payment from both the RMSPS and the RMPP.

They both have websites which give you more info:

https://www.royalmailsps.co.uk/" onclick="window.open(this.href);return false;
https://www.royalmailpensionplan.co.uk/" onclick="window.open(this.href);return false;

[westy23]

Thank you.