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PSE annual window : Opt-out window closing 16 July

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.
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POSTMAN
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PSE annual window : Opt-out window closing 16 July

Post by POSTMAN »

https://www.myroyalmail.com/news/2021/0 ... ual-window

The annual opt-out window for Pension Salary Exchange (PSE) closes next Friday 16 July 2021. If you are taking part in PSE but would now like to opt out, your opt-out form must be filled in, signed, dated and returned by next Friday.

Alternatively, if you have previously opted out of PSE and now want to opt back in, you can do so at any time.

Requesting PSE forms

If you would like either an ‘opt in to PSE’, or ‘opt out of PSE’ form, please contact Royal Mail HR Services by calling 0345 60 60 603 (Monday to Friday, 8.30am to 5pm, excluding Bank Holidays) or by emailing advicecentrePAY@royalmail.com.

What is PSE?

PSE was introduced four years ago and almost all eligible employees participate in it. It allows you to make a saving on your National Insurance contributions, by changing the way you make contributions to your pension. As a result, you should receive an increase in your take home pay.

For more information about PSE, click here...
https://www.myroyalmail.com/node/6791

Please note that the changes made to the Royal Mail Pension Plan from 1 April 2018 do not affect PSE or your National Insurance contributions.

Legal note: Royal Mail has the right to withdraw, suspend or amend PSE at any time.
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Dexydog
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Joined: 14 Jan 2017, 13:54
Gender: Male

Re: PSE annual window : Opt-out window closing 16 July

Post by Dexydog »

Would there be any reason for anyone to actively opt OUT of PSE??
Can't see any downsides.
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RobertT
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Joined: 09 Sep 2007, 14:26
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Re: PSE annual window : Opt-out window closing 16 July

Post by RobertT »

POSTMAN wrote: ↑
09 Jul 2021, 11:34
 What is PSE?
PSE was introduced four years ago and almost all eligible employees participate in it.
It was actually introduced in August 2015, so nearly 6 years ago.
Dexydog wrote: ↑
09 Jul 2021, 11:41
 Would there be any reason for anyone to actively opt OUT of PSE??
Can't see any downsides.
For the vast majority of posties, there is no reason to opt out. But there could be the odd exception, see page 19 of the PSE brochure: https://www.myroyalmail.com/sites/defau ... %20WEB.pdf

Paying AVC's into your pension, buying shares via the P&M scheme and certain purchases via My Bundle are great ways to take advantage of PSE.
Links to all RM pension related websites are here
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