RMPP 60 estimate should I tell them to stick it where the sun don't shine

[markis]

I have just received my RMPP estimate for my 60th birthday, and feel like telling them to shove it:
Regular income:£31.08 a year or
Regular income £24.25 a year + maximum tax free cash £161.66
This is a piss take, I know I will be getting a letter from Capita for my 60th, but I just cannot believe this from RMPP.

[RobertT]

RMPP don't actually pay any of your NRA60 pension as such, they just pay some inflationary increases on it.
In practice, it's never going to be a massive amount.

[heapsy]

You must have been paying in for a very short period of time.

[markis]

Been in pension since 2000 when I started as a postman, I await a letter from Capita as RobertT puts it:
RMPP don't actually pay any of your NRA60 pension as such, they just pay some inflationary increases on it

[RobertT]

You'll have been paying into your NRA60 for around 10 years(2000-2010), depending on exactly when you joined. That will be made up of about 8 years in the final salary scheme and 2 in CARE/CSDB. Although any time spent on less than full time hours will mean you accrued pension on a pro rata basis.

[scoobydo79]

Good Lord. How many years have you worked for RM?

[chuckychucks]

I’ve been in RM since November 1993…I hope that’s not what I have to look forward to

Although I know someone who started a few years after me and got IHR in 2018 with immediate pension, he told me he was getting £650 a month pensions which drops to £500 at age 65 because it is a supplement.

Not sure now if he is telling me the truth.

[scoobydo79]

Ok . I’m not very good at explaining pension things so hopefully Robert will chime in if He sees what I’m trying to say lol. You kind of get two pension statements one is guaranteed to be pretty poor amount and the other seems to be much more..I got quite a few years in and I received the lower one before the other and nearly had a fit.Possibly same for you?

[RobertT]

I’ve been in RM since November 1993…I hope that’s not what I have to look forward to

Although I know someone who started a few years after me and got IHR in 2018 with immediate pension, he told me he was getting £650 a month pensions which drops to £500 at age 65 because it is a supplement.

Not sure now if he is telling me the truth.

If he was in section C, then he'll be getting a supplement until state pension age - it's paid to every section C member when they take their pension, as long as they've left RM employment.

State pension age is currently 66, but will be increasing to 67 between 2026 and 2028. So he might end up getting it for longer than he thinks?

[RobertT]

Ok . I’m not very good at explaining pension things so hopefully Robert will chime in if He sees what I’m trying to say lol. You kind of get two pension statements one is guaranteed to be pretty poor amount and the other seems to be much more..I got quite a few years in and I received the lower one before the other and nearly had a fit.Possibly same for you?

The RMSPS statement is for pension accrued up to 2012, while the RMPP is from 2012 to 2018, plus the DBCBS(2018-present).

Although anyone joining RM after 1st April 2008 will be in the RM Defined Contribution Plan(RMDCP), and those who've been in that for at least 4 years can join the DBCBS instead and be a section F member of the RMPP.

[chuckychucks]

I’ve been in RM since November 1993…I hope that’s not what I have to look forward to

Although I know someone who started a few years after me and got IHR in 2018 with immediate pension, he told me he was getting £650 a month pensions which drops to £500 at age 65 because it is a supplement.

Not sure now if he is telling me the truth.

If he was in section C, then he'll be getting a supplement until state pension age - it's paid to every section C member when they take their pension, as long as they've left RM employment.

State pension age is currently 66, but will be increasing to 67 between 2026 and 2028. So he might end up getting it for longer than he thinks?

Hi Robert, thanks for the reply.

So do you think the figures he told me sound right?

Yes he was Section C and he did tell me the supplement was until state pension age.

Regards

[RobertT]

I’ve been in RM since November 1993…I hope that’s not what I have to look forward to

Although I know someone who started a few years after me and got IHR in 2018 with immediate pension, he told me he was getting £650 a month pensions which drops to £500 at age 65 because it is a supplement.

Not sure now if he is telling me the truth.

If he was in section C, then he'll be getting a supplement until state pension age - it's paid to every section C member when they take their pension, as long as they've left RM employment.

State pension age is currently 66, but will be increasing to 67 between 2026 and 2028. So he might end up getting it for longer than he thinks?

Hi Robert, thanks for the reply.

So do you think the figures he told me sound right?

Yes he was Section C and he did tell me the supplement was until state pension age.

Regards

Without more details, it's impossible to say.

[grchpo]

Do you need to apply for the supplement or do they know if you have left

[RobertT]

Do you need to apply for the supplement or do they know if you have left

If you've already left RM when you take your pension, the supplement should be included in the figures.

But if you leave after you've taken your pension, it's probably best to tell both RMSPS and RMPP to be on the safe side.

[tractorboy2]

I have just received my RMPP estimate for my 60th birthday, and feel like telling them to shove it:
Regular income:£31.08 a year or
Regular income £24.25 a year + maximum tax free cash £161.66
This is a piss take, I know I will be getting a letter from Capita for my 60th, but I just cannot believe this from RMPP.

When I got mine about a year and a half ago it was around £27.