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Pension pot
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the mad woman
- Posts: 178
- Joined: 20 May 2007, 13:37
Pension pot
Does anyone know why we can't draw the lot out as has been widely publicised in the press can't get any info on this
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RobertT
- EX ROYAL MAIL
- Posts: 6645
- Joined: 09 Sep 2007, 14:26
- Gender: Male
Re: Pension pot
Have a read of this: http://www.royalmailchat.co.uk/communit ... 27&t=69013" onclick="window.open(this.href);return false;the mad woman wrote:Does anyone know why we can't draw the lot out as has been widely publicised in the press can't get any info on this
Links to all RM pension related websites are here
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the mad woman
- Posts: 178
- Joined: 20 May 2007, 13:37
Re: Pension pot
Does that mean they have to pay out full lump sum with no pension
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RobertT
- EX ROYAL MAIL
- Posts: 6645
- Joined: 09 Sep 2007, 14:26
- Gender: Male
Re: Pension pot
It means that members of the RMPP can't just take all of the value of their pension as cash. The maximum cash you can take is the normal 25% with the rest paid out as pension.the mad woman wrote:Does that mean they have to pay out full lump sum with no pension
However if you have AVC's or are in the RM Defined Contribution Pension, you may be able to access all of your pot from age 55.
Links to all RM pension related websites are here