NRA 65 Section C RMPP Pension Supplement

[Hawkey99]

I had a quote last year for my NRA 65 from both RMPP AND RMSPS.

With the RMSPS statement it clearly states a supplement of £139 per year is payable when I leave RM.

However there is no pension supplement figure provided. It does state the following
"Any pension supplement under section C rules will not be payable until you leave RM"

I know this subject it been discussed before but cannot find it at present.

So my question is...Is there a supplement with the NRA 65 RMPP ? If so can anybody who has taken their Section C give any sort of amount it might be worth. How is the supplement worked out.

As an example my RMPP IS £736 and a supplement of £139 with a lump sum or £936 and a supplement of £139 without a lump sum.

Strangely the supplement is the same amount with or without taking a lump sum...

Any help greatly received......

[RobertT]

So my question is...Is there a supplement with the NRA 65 RMPP ?

Yes!

If so can anybody who has taken their Section C give any sort of amount it might be worth.

Your annual illustration should tell you.

How is the supplement worked out.

The RMSPS guide to benefits states:

For service before 1 April 2008(final salary):

1/60th of the average Lower Earnings Deduction over the period during which final pensionable pay is calculated, with an additional pro-rata amount for part years.

– For service on or after 1 April 2008(CSDB):

For each Plan Year you would get 1/60th of the Lower Earnings Deduction for that year (reduced appropriately if you worked part-time and for part years of service).

[Hawkey99]

Thank you Robert.....

Brilliant as always.....

[Hawkey99]

Couple of things.....

RMPP display the supplement on a quote where as RMPP don't....Would make more sense to have same information on the statement...

I assume the supplement is reduced in line with the pension if taken early ?

[RobertT]

Couple of things.....

RMPP display the supplement on a quote where as RMPP don't....Would make more sense to have same information on the statement...

I agree.
As you're still working for RM, one obviously assumes(rightly or wrongly) that will continue to be the case, and the other one doesn't.
It really should be the same for both!

I assume the supplement is reduced in line with the pension if taken early ?

There's been some debate on that point on these forums and I'll leave it someone who's taken their pension early and left to answer it.

[fly-catchers]

Couple of things.....

RMPP display the supplement on a quote where as RMPP don't....Would make more sense to have same information on the statement...

I agree.
As you're still working for RM, one obviously assumes(rightly or wrongly) that will continue to be the case, and the other one doesn't.
It really should be the same for both!

I assume the supplement is reduced in line with the pension if taken early ?

There's been some debate on that point on these forums and I'll leave it someone who's taken their pension early and left to answer it.

The supplement gets reduced much more than the 5% the pension gets reduced. It seems as if you take the percentage you are leaving early to give you a reduced supplement figure. And them divide that figure by the number of years you are getting the pension early and that gives you roughly your annual supplement until SPA assuming you have left RM.