Taking pensions early

[the shadow 36]

Hi , if u decide to take your pensions early do u have the option of say just taking the rmsps one ran by Capita and leave the rm pension plan until u reach retirement or is it all or nothing. Thanks

[RobertT]

You have to take all your AGE60 at the same time and all your AGE65 at the same time.

The RMSPS and RMPP each pay an element of both.

The RMPP website has a useful video guide on its homepage giving more info on who provides what. https://www.royalmailpensionplan.co.uk/

[NorthernBoy]

You can take your RM 60 and Rm65 pensions early and at different times from age 55 under current rules

The administrator of the scheme has no relevance to when you can take them

[the shadow 36]

Thank u, in the one from Capita I have age 60 benefits but in the one that has just closed I don't seem to have any age 60 benefits only age 65 . Would that therefore mean I could take the age 60 benefit from the Capita one then and leave the age 65 in the rmpp.

[RobertT]

You can take either Age60 or Age65 any time after age 55, rising to 57 from 2028.

Who those benefits are held with isn't really relevant, because if you take Age60 you have to take all of them whether they're with RMPP or RMSPS.

If you only have Age60 with RMSPS then that's all you'll be able to take, but check the purple and lilac boxes on page 2 of your RMPP statement to see if you do have any Age60 with them. If so, they must be taken too!

The same applies when you take Age65.

Most of your RMPP is likely to be Age65 with maybe a small amount of Age60.

Most of your RMSPS will be Age60 with 2 years of Age65(2010-2012).

[the shadow 36]

Thank u , that's very helpful