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750.00p Financial advice Lump sum

Royal Mail pension news and discussion.Please note the advise given in this forum is unofficial, please use the links we have for a more detailed response or see an independent financial adviser.
deltaforce
Posts: 778
Joined: 01 Jan 2009, 15:29
Gender: Male

750.00p Financial advice Lump sum

Post by deltaforce »

Has anyone received £750 from Royal Mail in respect of cash balance scheme lump sum. It is to go towards paying for financial advice.
If anyone has, how long did you wait for it and was it paid automatically or did it have to be chased up?
The reason I’m asking is because I’ve been mucked about with my nra 65 pensions from both providers and I’m begining to doubt if this is going to happen smoothly aswell
stephen500
EX ROYAL MAIL
Posts: 1458
Joined: 02 Jun 2007, 04:04

Re: £750 Financial advice Lump sum

Post by stephen500 »

This won't answer your question, but I was told that it will take about 12 weeks to come through. I think they said it is automatic, but I don't trust them. my last day of service is the 11th Dec 2020 and as soon as I have had my last pay day (annual leave payment due) on the 18th. I shall be ringing both HR and RMPP to chase it up and set the timer as 12 weeks after the 18th. The one thing I am unsure of, is if Royal Mail have issued me my p45 how do they pay it? Is it through RMPP? I will let you know what happens to me, please do likewise. Thanks.
fly-catchers
EX ROYAL MAIL
Posts: 573
Joined: 05 Oct 2008, 16:38
Gender: Male

Re: £750 Financial advice Lump sum

Post by fly-catchers »

I got my P45 and a weeks wages the last week I worked. But was and still am owed 5 hours. My leavers letter seemed to suggest I would get a Final pay calculation based on the date of my LDOS. Still waiting!
tractorboy2
EX ROYAL MAIL
Posts: 539
Joined: 18 Jan 2012, 11:03
Gender: Male

Re: £750 Financial advice Lump sum

Post by tractorboy2 »

Don't we get paid current week ? No week in arrears , so only pay due would be overtime performed previous week , as you have been on leave what pay would they owe you ?
stephen500
EX ROYAL MAIL
Posts: 1458
Joined: 02 Jun 2007, 04:04

Re: £750 Financial advice Lump sum

Post by stephen500 »

tractorboy2 wrote:
10 Dec 2020, 08:24
Don't we get paid current week ? No week in arrears , so only pay due would be overtime performed previous week , as you have been on leave what pay would they owe you ?
As I am on leave during my last week of service, they have to pay me for the weeks leave and my scheduled attendance holiday pay.
I have taken 3 weeks up till this week of the 4 for 8 months service for this year that I am entilted too.
So this is my fourth weeks annual leave.

A bit of humble pie is always good.
I got paid my leave, but on the 11th, as I had reinforced to me that, that is paid the week I/you leave.
I was right about scheduled attendence pay and I get that on the 18th.
I left a week too early for the Christmas bonus.
Never mind I am expecting a tax rebate of around £151 at the end of the tax year.
So yes you were right, basic pay is not in arrears and assigned allowances that are permanment as well.