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In service death benefit
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cstf
- Posts: 20
- Joined: 19 Sep 2007, 19:16
In service death benefit
Asked this question on royal mail chat Facebook page but didn't get a definitive answer , I've also sent an email to the Pension helpline, but they seem to take forever to get back to you, so was hoping someone might know the answer, looking at possibly taking my age 60 and 65 pensions early , question is how does this effect your in service death benefit, only info I could find says if it's paid out it's shared between the rmsps the rmpp and the new collective plan , so wondered if your in receipt of the first 2 pensions does the collective plan cover your death benefit or is it reduced , any info appreciated.
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RobertT
- EX ROYAL MAIL
- Posts: 6642
- Joined: 09 Sep 2007, 14:26
- Gender: Male
Re: In service death benefit
My understanding is:
As long as you're paying into the RMCPP at the time of your death, your dependants would get a lump sum of 4x pensionable pay.
That would be made up from any payments due from the RMSPS and RMPP first, and then topped up from the RMCPP.
If there's no payment from RMSPS or RMPP, all of it would be paid by the RMCPP.
But I suggest you wait for confirmation from the helpline.
As long as you're paying into the RMCPP at the time of your death, your dependants would get a lump sum of 4x pensionable pay.
That would be made up from any payments due from the RMSPS and RMPP first, and then topped up from the RMCPP.
If there's no payment from RMSPS or RMPP, all of it would be paid by the RMCPP.
But I suggest you wait for confirmation from the helpline.
Links to all RM pension related websites are here