ANNOUNCEMENT : ALL OF ROYAL MAIL'S EMPLOYMENT POLICIES (AGREEMENTS) AT A GLANCE (Updated 2021)... HERE
ANNOUNCEMENT : PLEASE BE AWARE WE ARE NOT ON FACEBOOK AT ALL!
Pension at 60
-
Shirtbuttons
- EX ROYAL MAIL
- Posts: 292
- Joined: 06 Sep 2020, 14:46
- Gender: Male
Pension at 60
I joint the pension in 1987 and am in section c. If I retire at 60 and take my NRA 60 at age 60, is this part of pension up to 2012? So I will get 25 years and from 2012 I take it I will get that at 65?
-
RobertT
- EX ROYAL MAIL
- Posts: 6644
- Joined: 09 Sep 2007, 14:26
- Gender: Male
Re: Pension at 60
NRA60 relates to pension accrued up to 31st March 2010, which is all final salary(up to 2008) and the first 2 years of CARE.
NRA65 is 2010-2018.
The majority of your Cash Balance(DBCBS) will be paid out with your NRA65, but some can also be taken with your NRA60.
The RMSPS are responsible for paying out pensions up to 2012, and the RMPP from 2012-2018 plus the DBCBS.
Although as the RMPP also pay inflationary increases associated with pre 2012 benefits, you'll actually get pension payments from both RMSPS and RMPP when taking both your NRA60 and NRA65.
NRA65 is 2010-2018.
The majority of your Cash Balance(DBCBS) will be paid out with your NRA65, but some can also be taken with your NRA60.
The RMSPS are responsible for paying out pensions up to 2012, and the RMPP from 2012-2018 plus the DBCBS.
Although as the RMPP also pay inflationary increases associated with pre 2012 benefits, you'll actually get pension payments from both RMSPS and RMPP when taking both your NRA60 and NRA65.
Links to all RM pension related websites are here