Retirement incentives at 55

Dabba · Post by **Dabba** » 25 Jan 2020, 12:29

Is it true there is some kind of extra payment if you actually leave the business on your 55th birthday having taken benefits early?

Thailand1 · Post by **Thailand1** » 25 Jan 2020, 13:06

Not that I am aware......Robert T??

Post by **RobertT** » 25 Jan 2020, 13:06

Dabba wrote:Is it true there is some kind of extra payment if you actually leave the business on your 55th birthday having taken benefits early?

No!

Dabba · Post by **Dabba** » 25 Jan 2020, 19:25

Cheers both-i'm in this position and a colleague of a colleague who did this last year seems to think he did. But I do realise now the complexity of rm pensions if you've been in for a decade or three.

TheStrangler · Post by **TheStrangler** » 25 Jan 2020, 20:35

Pension supplement that's payable from leaving Royal mail to the time when you receive your state pension?

Post by **RobertT** » 26 Jan 2020, 09:37

It sounds to me as if the person in question is either talking about their tax free lump sum, which they would be perfectly entitled to take. Section A/B members get one as standard, while it's an option for those in section C.

Or else they took voluntary redundancy and received a payment in return for giving up their job, and subsequently took their pension(reduced for early payment).

moug26 · Post by **moug26** » 27 Jan 2020, 21:28

How much will I get taking a deal at 55 with 38 years service?

mr hil. · Post by **mr hil.** » 29 Jan 2020, 19:46

TheStrangler wrote:Pension supplement that's payable from leaving Royal mail to the time when you receive your state pension?

That is what I thought they were referring to too. Maybe it is only payable from the NRA(60 or 65) and not from the date you take the benefits if you take them early, I don't know but I know a man who does........

Dabba · Post by **Dabba** » 29 Feb 2020, 14:52

It's clear to me now that it was not a tick box exercise 'leave on your 55th birthday and you will get this.. ..'and The chap who left has fallen off the radar. I think Mr Strangler(as paxman might address you!) must be right.

Whatever, my feet can not take any more 5 hour deliveries (working at pace - a civilised one) and I am pleased with what I got especially as we were all staring into a massive black hole not so long back.