ERRATA – LTB 250/26 – ROYAL MAIL: WINDING UP THE RMDCP SCHEME – TRANSFER OF MEMBER ASSETS TO LEGAL AND GENERAL MASTERTRUST

[POSTMAN]

https://www.cwu.org/ltb/errata-ltb-250- ... stertrust/

ERRATA – LTB 250/26 – ROYAL MAIL: WINDING UP THE RMDCP SCHEME – TRANSFER OF MEMBER ASSETS TO LEGAL AND GENERAL MASTERTRUST
No. 250/26

21st September 2026

Dear Colleague,

ROYAL MAIL: WINDING UP THE RMDCP SCHEME – TRANSFER OF MEMBER ASSETS TO LEGAL AND GENERAL MASTERTRUST

Further to LTB 211/26 dated 29th July 2026.

RMDCP eligibility is – all people who commenced RMG employment from 1st April 2008 until 6th October 2024. Also, this LTB is specific to the RMDCP only, meaning the RMPP and the Collective Plan are unaffected.

Welcome to Legal & General Letters

We have received a number of enquiries from Branches on behalf of members who have not received their “Welcome to L&G” letters. In this regard, we have been in contact with the RMDCP Trustee, and the following response is helpful:

Where L&G had inherited an email address from Scottish Widows, members were sent an email link to access their letter (rather than a letter being posted to them). Sometimes emails from an unrecognised sender ends up in the ‘Junk’ folder rather than the Inbox.

If members haven’t received their Welcome Letter from L&G, please contact royalmail@landg.com or call 0300 124 0100 (lines are open Monday to Friday 08:30 to 19:00).

Branches are urged to bring this LTB to the attention of our members in the former RMDCP, and also to remind members of the need to re-nominate beneficiaries via the L&G App, as this information did not transfer from Scottish Widows to L&G.

If you have any queries, please contact snicholas@cwu.org or hmaughan@cwu.org

Yours sincerely,

Andy Furey

Assistant Secretary

[posted]

I’ve written to L&G and awaiting a response, but does anybody know if the RMDCP came with any protected rights or other privileges?

I’m looking to transfer it all to T212

[RobertT]

I’ve written to L&G and awaiting a response, but does anybody know if the RMDCP came with any protected rights or other privileges?

That's a question you perhaps should have asked before the the RMDCP was wound up and all monies transferred to L&G.

In short, the RMDCP was no different to the vast majority of DC pension schemes.

The CWU issued some info on the transfer to L&G a while back, including some Q&A's(via appendix B):
https://cwue5.org/2026/03/25/royal-mail ... july-2026/

[posted]

I’ve written to L&G and awaiting a response, but does anybody know if the RMDCP came with any protected rights or other privileges?

That's a question you perhaps should have asked before the the RMDCP was wound up and all monies transferred to L&G.

In short, the RMDCP was no different to the vast majority of DC pension schemes.

The CWU issued some info on the transfer to L&G a while back, including some Q&A's(via appendix B):
https://cwue5.org/2026/03/25/royal-mail ... july-2026/

How would that have changed anything? We didn’t get a choice in the matter when they wound it up and moved to L&G.

[RobertT]

How would that have changed anything? We didn’t get a choice in the matter when they wound it up and moved to L&G.

In practice, it wouldn't have made any difference at all.
But I would have thought it's more logical to find these things out beforehand, rather than waiting until after it had all gone through.

My understanding is if an employers scheme is going to change to the detriment of it's members, then a consultation period is required.
That could be because a DB scheme is closing, DC contributions being reduced or any other reduction of benefits.

The fact there was no consultation for the switch from RMDCP to L&G Mastertrust, suggests you're not losing anything.
Infact when you consider the lower charges, bigger investment choice and added flexibility(drawdown, etc), it's a win.

[posted]

Ok, I get what you mean, you speaking strictly RMDCP, as it was.
So for the purposes of my original question (and any other time I have/will refer to it) when I say RMDCP, I make no distinction between SW or L&G. For me, they’re just administrators/operators - I know that over simplifies it as they’re holding my assets under management.

I expect any protected rights, had they existed, would’ve transferred between SW and L&G. The Annexe B you linked to in CWU statement suggests there isn’t. Will just await formal confirmation from L&G along with their process times to transfer.

I didn’t consider transferring originally as there wasn’t much cheaper out there. SW was relatively competitive.

In fairness, L&G is cheaper than SW but T212 have just launched theirs in Q2 this year.
Flipside is T212 only offer ETFs, not Funds.

[clashcityrocker]

I find it funny that when they have printed something that was wrong or unclear they use the obscure word errata to draw our attention to it.
I have never used the word errata in my entire life.
What happened to plain English?

[RobertT]

I expect any protected rights, had they existed, would’ve transferred between SW and L&G. The Annexe B you linked to in CWU statement suggests there isn’t. Will just await formal confirmation from L&G along with their process times to transfer.

I think if you had any protected rights you would have known about them already, as they would have been part of your policy.

The only possible examples I can think of that might apply to a DC pension are:

1. If you'd had a contracted out DC scheme, the contributions relating to NI rebates were known as 'protected rights'. But the rules on those schemes changed in 2012 and protected rights were abolished and all such schemes just became normal DC plans.
2. The pension had a Guaranteed Annuity Rate which often provided a better rate than you could get on the open market. They are known as Safeguarded Benefits(like DB schemes) and would need IFA approval to transfer if over £30k in value. Providers had stopped offering GAR's by the 1990's.

Neither have ever applied to the 'former RMDCP'.

Going forward, I think I will refer to it as either that or the L&G Mastertrust.

In fairness, L&G is cheaper than SW but T212 have just launched theirs in Q2 this year.
Flipside is T212 only offer ETFs, not Funds.

They also currently don't provide the option of drawdown, just UFPLS.

[posted]

They also currently don't provide the option of drawdown, just UFPLS.

I’ll just transfer out again nearer the time to whoever does offer it (might even be some cashback incentives knocking about)

[posted]

Well well well...

L&G pension transfer.jpg

Grand scheme of things, I don't mind waiting an extra 2 years... but the risk is, if I do transfer out and the Gov was to change the Minimum Pension Age again, between now and the next 12 years!

I think they're mandated to review it every 10 years, or is that the SPA?

[Jaggs]

Well well well...
L&G pension transfer.jpg
Grand scheme of things, I don't mind waiting an extra 2 years... but the risk is, if I do transfer out and the Gov was to change the Minimum Pension Age again, between now and the next 12 years!

I think they're mandated to review it every 10 years, or is that the SPA?

The protected pension age is the only thing that I'm aware of regarding the RMDCP that may make you consider not transferring it. I wasn't aware of it though until I transferred my RMDCP to Vanguard and after the transfer was complete Vanguard messaged me to say that they would honour the protected pension age. Best thing to do is contact the provider you want to transfer to and see if they will honour the protected pension age

[posted]

Well well well...
L&G pension transfer.jpg
Grand scheme of things, I don't mind waiting an extra 2 years... but the risk is, if I do transfer out and the Gov was to change the Minimum Pension Age again, between now and the next 12 years!

I think they're mandated to review it every 10 years, or is that the SPA?

The protected pension age is the only thing that I'm aware of regarding the RMDCP that may make you consider not transferring it. I wasn't aware of it though until I transferred my RMDCP to Vanguard and after the transfer was complete Vanguard messaged me to say that they would honour the protected pension age. Best thing to do is contact the provider you want to transfer to and see if they will honour the protected pension age

T212 have confirmed they don't accept this type of protected benefit (only the Lifetime Allowance).
I think, at best, by 2040 it may increase to 58, in line with SPA.

[RobertT]

Well well well...

A potential Brucie Bonus

but the risk is, if I do transfer out and the Gov was to change the Minimum Pension Age again, between now and the next 12 years!

I think they're mandated to review it every 10 years, or is that the SPA?

I think, at best, by 2040 it may increase to 58, in line with SPA.

The government is required to review the state pension age at least every 6 years:
https://www.gov.uk/government/calls-for ... r-evidence

Legislation is currently in place for it to increase to 68 between 2044-2046, but the review that's currently ongoing is expected to recommend bringing it forward.
2037-39 seems to be favourite, time will tell what actually happens.

Government(blue&red) have previously said they'll give at least 10 years notice of any change to SPA.

There's no legislation to increase the minimum access age of workplace/personal pensions beyond 57, but don't be surprised if that changes and it goes up.