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Pensions not protected
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2yearpostie
- Posts: 1839
- Joined: 03 Mar 2020, 15:36
- Gender: Male
Pensions not protected
Just been on the fcsc website and it says if the company goes under the pensions arent protected.
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RobertT
- EX ROYAL MAIL
- Posts: 6644
- Joined: 09 Sep 2007, 14:26
- Gender: Male
Re: Pensions not protected
It depends which RM pension you're referring to!2yearpostie wrote: ↑21 Jul 2023, 09:49Just been on the fcsc website and it says if the company goes under the pensions arent protected.
The RMSPS is backed by the government and effectively paid for by UK tax payers. It makes up roughly 2% of the total public sector pension liability.
The RMPP is currently in surplus. But if there wasn't enough in the pot and RM were to go bust, the Pension Protection Fund would pay out. Although not necessarily on exactly the same terms.
The RMDCP is effectively the same as a personal pension(with employer contributions), the success of which depends on how your choice of investments perform. There's no come back if they tank and no liability on RM, other than to pay in their percentage.
Links to all RM pension related websites are here