NRA60 this year (UPDATE)

[Hitcher]

In just over 6 months I'll be taking my NRA60 and just wondered what the procedure was - will they contact me or do I have contact them and what are the time periods?

Thanks.

[SeanMc]

They will contact you 3 months before.

[RobertT]

In just over 6 months I'll be taking my NRA60 and just wondered what the procedure was - will they contact me or do I have contact them and what are the time periods?
Thanks.

You don't say how old you are.

If you're 60 this year, they should contact you automatically.

The two schemes provide their own timelines:
RMPP in this video.
RMSPS here.

If you want to take it before NRA, then get in touch with RMPP.

[ted_e_bear]

I received my communication from both rmpp and rmsps in good time, nearly 4 months before my 60th birthday.

[Hitcher]

Sorry, forgot to mention I'll be 60. Thanks for the replies.

[Hitcher]

So had my 6 months letter explaining the process but I'm confused about one part of it.

It says before they can pay me they need to do some calculations and need to know about any other workplace pensions I have or personal pensions I've set up.

What's that about?

Thanks.

[mr hil.]

I believe it is to do with the government limits on pensions etc.

see the link below
https://www.gov.uk/government/publicati ... emes-rates

[RobertT]

It says before they can pay me they need to do some calculations and need to know about any other workplace pensions I have or personal pensions I've set up.

What's that about?

It relates to how much you can take in tax free cash and how much of your pension can be inherited tax free on your death.

You need to have pensions worth over £1 million for it to be an issue, so it won't affect many people.

If you're unsure about what figures you have to include, get in touch with RMPP/RMSPS.

This gives you some fairly easy to understand info: https://www.moneyhelper.org.uk/en/pensi ... r-pensions