Final salary pension query

stevepostman · Post by **stevepostman** » 02 Feb 2018, 11:41

Sorry if its a dumb question. With these new proposals has the final salary pension gone for section C or is this two tier?

Post by **RobertT** » 02 Feb 2018, 14:06

stevepostman wrote:Sorry if its a dumb question. With these new proposals has the final salary pension gone for section C or is this two tier?

I'm not sure I understand your question to be honest!

The last time i heard, the final salary element of the RMPP for section C members would no longer be linked to wages from 1st April ,but be linked to inflation. It hasn't gone and it won't be going anywhere!

stevepostman · Post by **stevepostman** » 02 Feb 2018, 15:46

Ok i just thought the reason why they where closing the pension Royal Mail is because they couldnt afford the final salary pension. When you say no longer linked to wages but inflation. How would that apply to me when i take my pension at nra60?

Post by **RobertT** » 02 Feb 2018, 16:54

The final salary scheme closed in 2008 and was replaced with a career average pension, but the final salary part has always still been linked to salary. The latest proposal on the matter was to link it with RPI from April 2018 instead.

Your pension would increase with RPI each year while it’s in payment.