Hi, new here

[WFC]

Hi all, I have absolutely no idea on my pension so really looking for advice. I will be 60 in July when I will have done just over 38 years service, mainly on delivery but the last year of employment will have been as a MGV driver. I havn't taken any of my pension as yet. I am hopefully (funds and Brexit allowing) moving to Spain early 2025 to retire. Is there absolutely no benefit in NOT taking my pension at 60 but to wait until I retire or take the original pension we had and keep the rest until I go? This may all seem stupid but I thought i would ask to be sure I'm doing the correct thing. Many thanks in advance.

[BenacreNick]

RobertT is one of the pension experts on here, I am sure he will see you enquiry soon enough and respond accordingly WFC.

[ARMIT65]

Hi WFC,

Until Robert responds

The link below may help you understand your options better. Looks like there is no benefit in delaying your NRA60 pension, but if you took your NRA65 at the same time then your NRA65 will be reduced by 25%. So only take your NRA60 in July and leave your NRA65 alone, then in 5 years time you'll have another 'little' pension that will buy you more San Miguel


viewtopic.php?f=27&t=76006&p=741512&hil ... it#p741512

[WFC]

Hi ARMIT65, that link explains it very well. Thank you very much. I shall take my NRA60 and leave the other 1 until at least when I retire or Im 65. All the best.

[mrcurve]

if you dont take your 60 pension at 60 then you just loose the payments until you do.

[mrcurve]

https://www.royalmailpensionplan.co.uk/ ... w3_web.pdf

see the purple box on page 16

this applies to pensions that are the a/b and c

[WFC]

Very helpful mrcurve, thank you. It's an absolute minefield if you don't know about this kind of thing. I should have listened to my Mum years ago.