CWU PENSIONS LEAFLET – “TAKING YOUR BENEFITS EARLY”

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Letter to Branches




No: 1094/11
Ref: 24209
Date: 22nd December 2011


TO: ALL BRANCHES WITH POSTAL MEMBERS



Dear Colleague

CWU PENSIONS LEAFLET – “TAKING YOUR BENEFITS EARLY”

Branches will recall that Motion 79 was endorsed at the Postal Conference 2011. (Please see attached).

Following Conference the Union met with our pension advisors, First Actuarial to discuss the terms of the motion and establish what type of information was needed to meet the terms of the policy contained in Motion 79.

Attached for Branches is a copy of the leaflet and information that has been prepared. CWU Headquarters is now making arrangements for a copy of the leaflet to be made available on the Union’s website.

Any enquiries on the above LTB should be addressed to the DGS (P) Department.

Yours sincerely



Dave Ward
Deputy General Secretary (P)

Taking pension early.pdf

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79 CATEGORY A: This Conference agrees that that there is a massive problem for all members who decided to take pension benefits early between the ages of 50-55 before last April 2010. The problems that have arisen for our members are.

1. No longer available to them is Death in Service Benefit.
2. Massive tax implications for members who continue to perform extra duty and therefore enter a higher tax rate ceiling.
3. Reduced pension benefits because of early release.

This list is not exhaustive.

With this in mind the Postal Executive is instructed to produce user friendly documentation to outline some of the pitfalls of requesting early pension benefits before a new wave of problems arise with our over 55 members, that may be tempted to receive early pension benefits.

Merseyside Amal