Never right....!!!!!....DBCBS & AVC Information

[Hawkey99]

I know we have discussed this before but I still cannot believe you are forced to take your pension even before you know your full pension entitlement....In fact I can't even get clarity if that is the case........

This is the statement at the top of my RMPP NRA 65 Pension Benefit estimate....

"The value of your DBCBS fund-pension contributions from 1st April 2018, any AVC funds and court orders as applicable will be included should you decide to take payment of your benefits."

Any thoughts on best person to contact to get this changed...Perhaps a trustee.....

[RobertT]

I once contacted the trustees about a mistake the PSC made when I wanted to change my AVC investments, and found them very good.
I had a phone call from one of them personally, who had sorted out the problem quickly and was very apologetic.
Although it was a good few years ago now and don't know if he's still a trustee, as I can't remember his name.

I have no personal experience of getting a pension quote, but the idea that all info regarding the DBCBS and AVC's isn't included on them is very poor, and isn't really good enough! They should at least give you ballpark figures based on values at the time of the quote.
Obviously those figures might change by the time you actually take your pension!

The fact we now have two points of contact and we rely on them working together to provide the info we want, doesn't exactly help matters either.

Although at the same time, I find it hard to comprehend that once you get your updated figures including DBCBS and AVC's, you then have no choice but to take your benefits!
Surely you then have to tell them yes or no?

As you have already taken your NRA60, you presumably know the process? Or can someone else confirm it?

However if what you say is true, we can login to find our AVC values and it's not difficult to work out DBCBS figures, so doing our own workings out seems to be our best bet at the moment.

If Stephen500's 'route to retirement' thread has taught me anything, it's that doing the calculations yourself might be confusing and frustrating, but is actually fairly accurate.

[Hawkey99]

When I got my NRA 60 figures I just took the pension but I have looked at the paperwork and it does show anywhere that you can cancel your request.

When I recently got my NRA 65 figures I actually had to contact them to ask them to not cancel my pension contributions at the end of the month even though I hadn't sent my options estimate back it.

Think I will find out who the trustee are and how to contact them...

Ill put on here when I have their details....

[RobertT]

RMPP trustees here: https://www.royalmailpensionplan.co.uk/about-rmpp

Their address here: https://www.royalmailpensionplan.co.uk/useful-contacts

RMSPS complaint process here: https://www.royalmailsps.co.uk/contact- ... -complaint

RMSPS 'governance group' here: https://www.royalmailsps.co.uk/support/ ... is-managed

[Jefferson Starfish]

When I got my NRA 60 figures I just took the pension but I have looked at the paperwork and it does show anywhere that you can cancel your request.

But when you got your quote that included your AVC's, did you then have to send your paperwork back?
If so, and you hadn't sent it back, you presumably wouldn't have got your pension?

[Hawkey99]

Yes I sent the paperwork back and got my NRA 60 pension.

[Jefferson Starfish]

Yes I sent the paperwork back and got my NRA 60 pension.

So when you get your NRA65 quote that includes your DBCBS and AVC's, if it's not what you expect and you decide you don't want to take it, don't send your paperwork back.
Or perhaps send them a nice letter explaining your decision not to take it?

Seems fairly easy to me, unless I'm missing something?

[freespeech]

Yes I sent the paperwork back and got my NRA 60 pension.

So when you get your NRA65 quote that includes your DBCBS and AVC's, if it's not what you expect and you decide you don't want to take it, don't send your paperwork back.
Or perhaps send them a nice letter explaining your decision not to take it?

Seems fairly easy to me, unless I'm missing something?

I've recently had VR quotes and they didn't include AVC's or DBCBS.

[RobertT]

Yes I sent the paperwork back and got my NRA 60 pension.

So when you get your NRA65 quote that includes your DBCBS and AVC's, if it's not what you expect and you decide you don't want to take it, don't send your paperwork back.
Or perhaps send them a nice letter explaining your decision not to take it?

Seems fairly easy to me, unless I'm missing something?

I've recently had VR quotes and they didn't include AVC's or DBCBS.

Can I ask what is your definition of VR here?

Is it a straight quote for leaving voluntarily, meaning a pay out of up to 104 weeks pay and therefore not directly linked to your pension. Or are you actually talking about EVR and early payment of your pension, which I thought no longer existed?

[freespeech]

Yes I sent the paperwork back and got my NRA 60 pension.

So when you get your NRA65 quote that includes your DBCBS and AVC's, if it's not what you expect and you decide you don't want to take it, don't send your paperwork back.
Or perhaps send them a nice letter explaining your decision not to take it?

Seems fairly easy to me, unless I'm missing something?

I've recently had VR quotes and they didn't include AVC's or DBCBS.

Can I ask what is your definition of VR here?

Is it a straight quote for leaving voluntarily, meaning a pay out of up to 104 weeks pay and therefore not directly linked to your pension. Or are you actually talking about EVR and early payment of your pension, which I thought no longer existed?

I was referring to being sent two separate quotes for taking all benefits at 55.

[RobertT]

Yes I sent the paperwork back and got my NRA 60 pension.

So when you get your NRA65 quote that includes your DBCBS and AVC's, if it's not what you expect and you decide you don't want to take it, don't send your paperwork back.
Or perhaps send them a nice letter explaining your decision not to take it?

Seems fairly easy to me, unless I'm missing something?

I've recently had VR quotes and they didn't include AVC's or DBCBS.

Can I ask what is your definition of VR here?

Is it a straight quote for leaving voluntarily, meaning a pay out of up to 104 weeks pay and therefore not directly linked to your pension. Or are you actually talking about EVR and early payment of your pension, which I thought no longer existed?

I was referring to being sent two separate quotes for taking all benefits at 55.

So just taking your pension and not Voluntary Redundancy?

[freespeech]

Yes I sent the paperwork back and got my NRA 60 pension.

So when you get your NRA65 quote that includes your DBCBS and AVC's, if it's not what you expect and you decide you don't want to take it, don't send your paperwork back.
Or perhaps send them a nice letter explaining your decision not to take it?

Seems fairly easy to me, unless I'm missing something?

I've recently had VR quotes and they didn't include AVC's or DBCBS.

Can I ask what is your definition of VR here?

Is it a straight quote for leaving voluntarily, meaning a pay out of up to 104 weeks pay and therefore not directly linked to your pension. Or are you actually talking about EVR and early payment of your pension, which I thought no longer existed?

I was referring to being sent two separate quotes for taking all benefits at 55.

So just taking your pension and not Voluntary Redundancy?

VR at the same time....but as you say they are separate. The pension options were unaffected or influenced by the VR. I was just checking I could afford it as I intended to retire.