PENSIONS . Grrr

[NewPostieUK]

Could someone please tell me the names of the three pensions I'm in / have been in since I joined in 2007.

I'm trying not the rant about the ridiculous state of affairs of having three different pensions, but it's doing my head in.

I need Cash Equivalent Transfer Values for them for divorce purposes. Apparently, I've asked the same one twice, despite having two names.

I've got one from "Royal Mail Statutory Pension Scheme (RMSPS)" ,

What are the two other ones? (Bonus question: Any email address or phone number?)

Also, which one am I still in (the current one?) and what was the name of the one when I started in 2007?

Many thanks for any help.

[pieoftheday]

You would be better off posting this in the Pension section, incidently if your other half wants some of your pension I hope you get some of theirs

[sjh182]

Current pension plan is the royal mail pension plan (RMPP) phone number is 0345 603 0043
Email is pensions.helpline@royalmail.com
This I believe is who deals with the current plan and anything post 2012, RMSPS deal with anything pre 2012.
Hope that helps

[NewPostieUK]

Current pension plan is the royal mail pension plan (RMPP) phone number is 0345 603 0043
Email is pensions.helpline@royalmail.com
This I believe is who deals with the current plan and anything post 2012, RMSPS deal with anything pre 2012.
Hope that helps

Very useful, thank you.

[NewPostieUK]

if your other half wants some of your pension I hope you get some of theirs

Why would we get some of each others pension?

If the court rules equalisation, then the person with the least valuable pension would get topped up from the person with the most valuable pension.

[RobertT]

You've already had the info you need but to put a bit more meat on the bones:

Assuming you joined the pension as soon as you started, you'll be in section C and will have benefits with RMSPS(up to 2012) and RMPP(2012+).

Here's the websites:
https://www.royalmailsps.co.uk/
https://www.royalmailpensionplan.co.uk/

I assume you'll be currently paying in the the Defined Benefit Cash Balance Scheme(section C), which comes under the RMPP. If in doubt just look at your payslip, it should say: 'PSE Adj RMPP DBCBS C'.

[pieoftheday]

if your other half wants some of your pension I hope you get some of theirs

Why would we get some of each others pension?

If the court rules equalisation, then the person with the least valuable pension would get topped up from the person with the most valuable pension.

I know nothing if your situation so maybe shouldn't have commented,being flippant or sarcastic dosnt always work on forums does it

[Surreypostie]

I was in a similar situation, each valuation costs around £750

[cpsteve]

I was in a similar situation, each valuation costs around £750

Wow thats extortion

[RobertT]

I was in a similar situation, each valuation costs around £750

Wow thats extortion

I'm not sure if a CETV for divorce purposes is different to one for transfer, but the RMSPS website says you can have a transfer value free each year.

https://www.royalmailsps.co.uk/im-not-r ... sfer-value

[NorthernBoy]

Yes you can get a free cetv every 12 months. I got one last December think it took about 2-3 week to arrive.

[postmanzach]

if your other half wants some of your pension I hope you get some of theirs

Why would we get some of each others pension?

If the court rules equalisation, then the person with the least valuable pension would get topped up from the person with the most valuable pension.

I recently settled a clean break settlement. I only knew of 2 pension schemes?! The cash equivalent was ridiculously large! Screwed me over in a way as all the equity in the house was mine and my name only, but I couldn’t argue over it as giving her half the equity when my pension was cash equivalent was worth 130k was a good deal apparently. annoying but happy it’s all done now and I got the house still.
Good luck

[postmanzach]

Current pension plan is the royal mail pension plan (RMPP) phone number is 0345 603 0043
Email is pensions.helpline@royalmail.com
This I believe is who deals with the current plan and anything post 2012, RMSPS deal with anything pre 2012.
Hope that helps

Very useful, thank you.

I started in 2008 but took a year out,
Mine was a total of 130k,
What was yours if you don’t mind sharing? I couldn’t believe that this came into it like what If I quit next week, it should be what it is worth now right there’s no way I have 130k in my pension already.

[RobertT]

I recently settled a clean break settlement. I only knew of 2 pension schemes?! The cash equivalent was ridiculously large! Screwed me over in a way as all the equity in the house was mine and my name only, but I couldn’t argue over it as giving her half the equity when my pension was cash equivalent was worth 130k was a good deal apparently. annoying but happy it’s all done now and I got the house still.
Good luck

I started in 2008 but took a year out,
Mine was a total of 130k,
What was yours if you don’t mind sharing? I couldn’t believe that this came into it like what If I quit next week, it should be what it is worth now right there’s no way I have 130k in my pension already.

CETV's are generally around 20x annual pension, which in your case makes about £6,000 in pension per year in total from age 65, plus the DBCBS amount. I assume your pension is now a lot less?

£130k sounds a lot, but in pension terms it's not much at all.

[postmanzach]

I recently settled a clean break settlement. I only knew of 2 pension schemes?! The cash equivalent was ridiculously large! Screwed me over in a way as all the equity in the house was mine and my name only, but I couldn’t argue over it as giving her half the equity when my pension was cash equivalent was worth 130k was a good deal apparently. annoying but happy it’s all done now and I got the house still.
Good luck

I started in 2008 but took a year out,
Mine was a total of 130k,
What was yours if you don’t mind sharing? I couldn’t believe that this came into it like what If I quit next week, it should be what it is worth now right there’s no way I have 130k in my pension already.

CETV's are generally around 20x annual pension, which in your case makes about £6,000 in pension per year in total from age 65, plus the DBCBS amount. I assume your pension is now a lot less?

£130k sounds a lot, but in pension terms it's not much at all.

A lot less now because she took half? No we made an agreement i gave her half the equity and she left my pension. The equity was nearly all made up of money I was given as a deposit just before we were married. She could have argued and got the pension or even the house seeing as she has the kids most of the time now but I acted quickly, put a deal out to her she was a happy to take the money, thinks she’s annoyed now and wishes she fought to get the house. She moved in out when we originally split up and left me with kids for half year or so. It’s all worked out alright for me now although wish I had got a fixed rate a few weeks ago! Luckily it’s shared ownership so not a huge rise to worry about.