NRA 65

Billybob57 · Post by **Billybob57** » 16 Dec 2019, 18:15

just received my forms for the NRA 65 which i am due to receive this month.Now im a little confused if i take NRA 65 benefits option 2 Take a reduced retirement pension of £,,,, per annum and the max tax free pension commencement lump sum (PCLS ) of £...
i am already receiving a pension i got at age 55 after 43 years service
does this NRA 65 affect this in any way or is it seperate?

Post by **RobertT** » 16 Dec 2019, 18:51

You're already getting your NRA60 pension which relates to service up to 31st March 2010. Your NRA65 relates to service from 1st April 2010 to 31st March 2018. You will also presumably have some 'cash balance' which is a lump sum that's been building up since 1st April 2018, when the RMPP closed to future accrual. You'll be able to take that along with your NRA65.

Your NRA60 and NRA65 are effectively separate benefits – you're entitled to both!

See the RMPP website for more details: https://www.royalmailpensionplan.co.uk/" onclick="window.open(this.href);return false;

Billybob57 · Post by **Billybob57** » 16 Dec 2019, 18:55

so that means i still get what i am getting now AND this one is seperate?

Post by **RobertT** » 16 Dec 2019, 19:02

Yes, you get both!

You will also get the state pension when you reach the appropriate age. You can find out when and how much here: https://www.gov.uk/check-state-pension" onclick="window.open(this.href);return false;

Billybob57 · Post by **Billybob57** » 16 Dec 2019, 19:37

thank you i worry a lot lol

Billybob57 · Post by **Billybob57** » 17 Dec 2019, 07:30

sorry to be a pest,i left royal mail in 2013 and at the moment i get a pension per month on the original letter i got in November i opted for option 2 ( see attached ) In the second letter i am unsure which option to chose as i am worried if i choose option two my pension i get now goes down ( SEE ATTACHED NO 2) sorry the blue one is option 2.

Post by **RobertT** » 17 Dec 2019, 09:52

I have no personal experience of this so am attempting to answer it 'blind'. Maybe someone who's been though the process can confirm?

There seems to be quite a large difference in the figures between the original options(on white paper) and the second options(on blue paper)! Is there a reason for that?
For example: Is 'white' an estimated amount, and 'blue' is a fully up to date personalised amount?

If so, choosing option 2 again will obviously give you more pension and more lump sum, compared to the original figures.

I see no logical reason why you would think the pension you're already getting would go down. As has already been said, you get both NRA60 and NRA65 benefits, as this will confirm: https://www.royalmailpensionplan.co.uk/ ... s-answered" onclick="window.open(this.href);return false;

Post by **barrowc** » 17 Dec 2019, 23:39

When I left Royal Mail earlier this year, I got a letter in October similar to the white letter in billybob57's post. For me this had a statement of the value of the various parts of my pension - RMSPS, RMPP, DBCBS.

What's not clear here is whether the two letters in billybob57's post show two separate parts of the pension. Because the administration of the RMSPS part of the pension switched to Capita on 7th November 2019 (for people with both RMSPS and RMPP pensions), any communications sent after that date would come in pairs: one from Capita for RMSPS and one from the Pension Service Centre for RMPP.

The white letter in the post is definitely from the Pension Service Centre and, from what I can see, only seems to mention RMPP. If the blue letter is from Capita and relates to RMSPS then that would solve the mystery, perhaps?

Post by **RobertT** » 18 Dec 2019, 05:04

Good point barrowc.

Perhaps Billybob57 can confirm?

If the white relates to the RMPP and the blue to the RMSPS, then Biilybob57 will be entitled to the amounts on both pieces of paper, aswell as what he's already receiving.

*The RMSPS relates to all RM pension accrued for service upto 31st March 2012, while the RMPP is afterwards.
Their websites will give more info:
https://www.royalmailsps.co.uk/" onclick="window.open(this.href);return false;
https://www.royalmailpensionplan.co.uk/" onclick="window.open(this.href);return false;

Billybob57 · Post by **Billybob57** » 18 Dec 2019, 11:55

been in touch with the help line and its been explained to me so problem solved its 2 seperate parts on my pension this one does not affect what i am getting now. Thanks for your help.

daveyeff · Post by **daveyeff** » 18 Dec 2019, 19:15

Billybob57 wrote:just received my forms for the NRA 65 which i am due to receive this month.Now im a little confused if i take NRA 65 benefits option 2 Take a reduced retirement pension of £,,,, per annum and the max tax free pension commencement lump sum (PCLS ) of £...
i am already receiving a pension i got at age 55 after 43 years service
does this NRA 65 affect this in any way or is it seperate?

how could you have 43 years service in at age 55??

Billybob57 · Post by **Billybob57** » 19 Dec 2019, 12:45

yes your right i left in 2013 with 43 years started in 1970 aged 15 i am getting on a bit lol

NWpostie · Post by **NWpostie** » 19 Dec 2019, 14:31

£425 a year is not a lot. How many years sevice was that for ?

Post by **RobertT** » 19 Dec 2019, 15:23

NWpostie wrote:£425 a year is not a lot. How many years sevice was that for ?

He's already taken his NRA60 pension.

The 'blue' figures are for his RMSPS pension between 1st April 2010 and 31st March 2012.
The 'white' figures are for his RMPP pension from 1st April 2012 to his leaving date in 2013.

So based on taking option 2(max lump sum) for both, his combined NRA65 benefits will be a lump sum of £5,767 and a pension of £865 per year.

NWpostie · Post by **NWpostie** » 19 Dec 2019, 16:09

Still quite low.