My current annual pension x 20 plus lumper is less than 30k on my last annual statement.
Can I take this all as a lump sum under the trivial rules at age 55?
Does having a current works pension have any bearing on this?
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Trivial Rules
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WestWim
- EX ROYAL MAIL
- Posts: 1
- Joined: 26 Jun 2023, 14:24
- Gender: Male
Trivial Rules
My current annual pension x 20 plus lumper is less than 30k on my last annual statement.
Can I take this all as a lump sum under the trivial rules at age 55?
Does having a current works pension have any bearing on this?
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RobertT
- EX ROYAL MAIL
- Posts: 6644
- Joined: 09 Sep 2007, 14:26
- Gender: Male
Re: Trivial Rules
Your benefits are via the RM Statutory Pension Scheme, which is an unfunded government scheme.
You are not allowed to transfer out from the RMSPS to anything other than another Defined Benefit pension arrangement.
https://www.royalmailsps.co.uk/im-not-r ... y-benefits
As far as I'm aware, that also applies to trivial sums. But contacting them will confirm.
You are not allowed to transfer out from the RMSPS to anything other than another Defined Benefit pension arrangement.
https://www.royalmailsps.co.uk/im-not-r ... y-benefits
As far as I'm aware, that also applies to trivial sums. But contacting them will confirm.
Links to all RM pension related websites are here