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Pension increase amount question on NRA 60

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.
JoshRogan
Posts: 3
Joined: 18 Sep 2023, 17:58
Gender: Male

Pension increase amount question on NRA 60

Post by JoshRogan »

Hello all.

I left Royal Mail the first week of 2007. My 'current value of annual pension' has been a lot lower since the 2006 statement, though it has been slightly increasing for a few years now.

I don't really know how pensions work, and I had always thought our NRA 60 pensions with RMSPS couldn't go down? What concerns me most is that after a couple of enquiries, I'm told that amount isn't guaranteed, and in their reply letter, they didn't even include the 'pension increase amount'. Confused even more now. I don't expect to hold them to the exact penny but when I've seen the 'current value of annual pension', I always thought that was what you was going to get? I'm 55 but just wondered if anyone else had the same worry?

Cheers.
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