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 deductions

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.
Downeagle
Posts: 68
Joined: 06 Feb 2009, 08:30
Gender: Male

Pension deductions

Post by Downeagle »

I turned 65 2 weeks ago and I’m in the process of taking my NRA65 but I’ve noticed I have not had any pension deductions for the past 2 weeks? Should I not be contributing to the new pension scheme?
I’m section C and still working.
Thanks
Jack1960
EX ROYAL MAIL
Posts: 333
Joined: 05 Jan 2016, 17:39
Gender: Male

Re: Pension deductions

Post by Jack1960 »

Downeagle wrote:
02 May 2023, 21:41
I turned 65 2 weeks ago and I’m in the process of taking my NRA65 but I’ve noticed I have not had any pension deductions for the past 2 weeks? Should I not be contributing to the new pension scheme?
I’m section C and still working.
Thanks
I was 65 in August last year, after 2 months or so i hadnt been enrolled to new scheme, i was sending emails off to try and sort it and eventually did so through the Scottish Widows site. If you do so make sure you pay in at 6 percent so that RM pay 10.
I hope that helps.
RobertT
EX ROYAL MAIL
Posts: 6644
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: Pension deductions

Post by RobertT »

Downeagle wrote:
02 May 2023, 21:41
I turned 65 2 weeks ago and I’m in the process of taking my NRA65 but I’ve noticed I have not had any pension deductions for the past 2 weeks? Should I not be contributing to the new pension scheme?
I’m section C and still working.
Thanks
I think you mis-understand the rules of auto-enrolment?

If a UK employee isn't contributing to a workplace pension scheme, their company has a legal obligation to auto-enrol them every 3 years.

So it's not a case of stopping paying into one scheme and then immediately starting to pay into another! You'll have to initiate the process yourself.

The only other scheme you can currently join is the RM Defined Contribution Plan via Scottish Widows, which isn't new. It's been in existence since February 2009!

Full details of the RMDCP are here: https://www.scottishwidows.co.uk/save/r ... cplan.html
Links to all RM pension related websites are here