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RM Pension lump sum.

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.
DGP1
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RM Pension lump sum.

Post by DGP1 »

I'm asking this for someone else.

If you're over 50, can you take your RM pension lump sum?
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POSTMAN
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Re: RM Pension lump sum.

Post by POSTMAN »

Oh yeah old timer,is this like the 'My mate fancies you' malarkey :chuckle
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DGP1
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Re: RM Pension lump sum.

Post by DGP1 »

The only thing about me over 50 are my knees :shock: and my dirty mind :crazy: :crazy: :crazy: :crazy:
I'm preparing myself for the zombie invasion, rule number 1 - Cardio
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stodgy88
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Re: RM Pension lump sum.

Post by stodgy88 »

put REDUNDANCY into SEARCH and you,ll get details about lump sum in some of the posts
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RobertT
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Re: RM Pension lump sum.

Post by RobertT »

At the moment you can take your pension lump sum (upto 25%) if you are over 50,but from April 2010 you have to be 55.

Your pension lump sum is totally different to a redundancy pay out!
Links to all RM pension related websites are here
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DGP1
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Joined: 07 Jun 2007, 20:39
Gender: Male
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Re: RM Pension lump sum.

Post by DGP1 »

RobertT wrote:At the moment you can take your pension lump sum (upto 25%) if you are over 50,but from April 2010 you have to be 55.

Your pension lump sum is totally different to a redundancy pay out!
That's what I thought but when the person phoned the pension scheme he was told that he couldn't get it, I was wondering if RM had some sort of special rule that prevented it.
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RobertT
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Re: RM Pension lump sum.

Post by RobertT »

You do have to have the agreement of the trustee.

Section A/B members:
ftp://ftp.royalmail.com/Downloads/publi ... tionAB.pdf" onclick="window.open(this.href);return false;

Section C members:
ftp://ftp.royalmail.com/Downloads/publi ... ctionC.pdf" onclick="window.open(this.href);return false;
Links to all RM pension related websites are here
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stodgy88
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Re: RM Pension lump sum.

Post by stodgy88 »

i looked into this ,you can leave the pension scheme and get a lumpsum at 50 , but the rest of pension pot must be put into a private pension and youll struggle to get anyone to touch it as RM final salary is so generous ,i got someone to take it but when i went into small print the money i would lose was horrendous,unless you are REALLY desperate for money forget it
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stodgy88
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Re: RM Pension lump sum.

Post by stodgy88 »

what % of your pension can be taken as a lumpsum above the 3 times your yearly pension (as indicated in a earlier BALDRICK post) cheers
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