Deferred Benefits Statement 2019?

Post by **NorthernBoy** » 07 Sep 2019, 15:12

Have any deferred members received their 2019 statements yet and if so what (if any) is the % increase?

I think I received my 2018 statements at about this time last year. (Plan c)

Thanks

FAB · Post by **FAB** » 07 Sep 2019, 16:44

The illustration now comes out in October. And on the 14th October is the date they release the CPI & RPI figure. The RPI figure is the one used in Section C both for pensions deferred and in payment.

Post by **RobertT** » 08 Sep 2019, 05:51

Your annual pension statement whether you're a current or deferred member will be dated 31st March, therefore the inflation figures used to determine the annual increase will be those from September 2018(released October 2018).
So it shouldn't be too difficult to find out what those figures were and do the maths yourself.

If you're in section C and are a deferred member your pre 1st April 2018 pension will actually be going up by CPI. Details here.

If you're in section C and are a current employee it'll be increasing by RPI. Details in your plan guide.

But if you've still employed by RM and opted out of the DBCBS, it will be CPI. Details here.

Post by **NorthernBoy** » 08 Sep 2019, 08:16

Thanks guys.

I checked last Septembers cpi rate and it’s 2.4%, so hopefully should see this increase in my statement next month.

FAB · Post by **FAB** » 08 Sep 2019, 09:03

I still think that page Robert linked to is incorrect as only section A/B pensions should change to CPI when either you start receiving the pension or are a deferred member who has left RM.
This is taken from the Governments Annual report.
Active deferred members differ from deferred members in that their pension entitlements receive revaluation based on the Retail Price Index (RPI) while they are still employed by the Royal Mail or Post Office. Once they leave RMPP service and become deferred members, revaluation for section A and B members is based on the Consumer Prices Index (CPI). Section C members continue to receive revaluation based on the RPI.

Post by **RobertT** » 08 Sep 2019, 09:14

Maybe we're both correct?

You seem to be referring to the benefits accrued via the RMSPS, while I'm linking to the RMPP.