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Pension

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.
grchpo
Posts: 488
Joined: 16 Mar 2019, 13:59
Gender: Male

Pension

Post by grchpo »

Am i getting this wrong , for 20 years at RM is it right that my NRA 60 will be about £2,500 per year & NRA 65 about £1,500 per year, doesn't seem much to me. If this is right what lump sum can i get?
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heapsy
Posts: 2949
Joined: 02 Jun 2007, 23:40
Gender: Male
Location: Drinking with Gangsters

Re: Pension

Post by heapsy »

Need more details than that. When did you work? Full or part time?
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RobertT
EX ROYAL MAIL
Posts: 6645
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: Pension

Post by RobertT »

grchpo wrote: ↑
18 Jan 2021, 19:39
 Am i getting this wrong , for 20 years at RM is it right that my NRA 60 will be about £2,500 per year & NRA 65 about £1,500 per year, doesn't seem much to me. If this is right what lump sum can i get?
As has already been said, you haven't given enough info to give a proper answer. But your numbers don't sound right for a full timer and a part timers pension will obviously be less.

You can find out a rough idea of your lump sum by using the calculations on page 12 of your 'member guide to benefits', available on the RMPP website.
Links to all RM pension related websites are here
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grchpo
Posts: 488
Joined: 16 Mar 2019, 13:59
Gender: Male

Re: Pension

Post by grchpo »

heapsy wrote: ↑
18 Jan 2021, 21:20
 Need more details than that. When did you work? Full or part time?
Started in 2000, always been full time, still employed now. Thanks
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freespeech
MDEC
Posts: 762
Joined: 28 Jun 2007, 16:35

Re: Pension

Post by freespeech »

grchpo wrote: ↑
18 Jan 2021, 19:39
 Am i getting this wrong , for 20 years at RM is it right that my NRA 60 will be about £2,500 per year & NRA 65 about £1,500 per year, doesn't seem much to me. If this is right what lump sum can i get?
Have you added the values of BOTH statements together?
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RobertT
EX ROYAL MAIL
Posts: 6645
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: Pension

Post by RobertT »

grchpo wrote: ↑
19 Jan 2021, 14:53
 Started in 2000, always been full time, still employed now. Thanks
You'll be in section C!

Many posties will have different amounts of pension due to hours worked, pensionable allowances, etc. So it's not as simple as 'I've done 20 years therefore I should have £x pension'.

But if yours is anything like mine, I would say rough ballpark figures from the 2020 statements from RMSPS and RMPP dated 31st March might be:

NRA60 up to 2010(10 years) around £4,000 inc. supplement
NRA65 from 2010 to 2018(8 years) around £3,200 inc. supplement
DBCBS from 2018 to 2020 around £8,000
Links to all RM pension related websites are here
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grchpo
Posts: 488
Joined: 16 Mar 2019, 13:59
Gender: Male

Re: Pension

Post by grchpo »

Thanks for replies. I wasn't including the supplements as i am still working for RM. Looking at your figures mine are about the same. Still got 7 years to go to 65 so hopefully these figures will increase. Thanks.
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