Taking pension whilst working

[jchewitt1967]

So , I'm in the process of taking all my pension but will carry on working, do I have to / need to enroll in another pension whilst I carry on working? And if so how do I do this ? Cheers.

[freespeech]

So , I'm in the process of taking all my pension but will carry on working, do I have to / need to enroll in another pension whilst I carry on working? And if so how do I do this ? Cheers.

Auto enrolment is an obligation for the employer to auto join you to a pension BUT you can opt out and there is no obligation to join. It's up to you whether you do and you are unlikely to find anything else so tax efficient and with an employers contribution.

[RobertT]

So , I'm in the process of taking all my pension but will carry on working, do I have to / need to enroll in another pension whilst I carry on working? And if so how do I do this ? Cheers.

As things stand, you should be auto enrolled into the RMDCP via Scottish Widows in due course.
To be honest I'm not 100% sure of the timescale with that, but you can opt to join anytime. Although you can't pay into the RMPP and RMDCP at the same time!
Full details are available here: https://www.scottishwidows.co.uk/save/r ... cplan.html

When the new CDC scheme starts, all employees with at least 12 months service will be put into that instead, unless they chose to join the Nest alternative.
Info: https://www.myroyalmail.com/collective-plan

There is also the choice to opt out altogether, but as has been said, that is rarely a good decision due to the 'free money' from both RM and the taxman.

[Jack1960]

I wasnt auto enrolled in, i had to go online and do it.

[RobertT]

I wasnt auto enrolled in, i had to go online and do it.

New starts should be auto enrolled within a maximum of 12 months of starting the job.

But if you've been in the RMSPS/RMPP and either taken all your benefits or opted out of contributing and therefore not paying into a RM pension, then you should be auto enrolled into the RMDCP approximately every 3 years.

So it should have been automatic, but you might have had to wait a while!

[jchewitt1967]

Thanks everyone for your help.