NRA60 Payments Timing

[freespeech]

Does anyone know if there is any pattern to payment of NRA60 lump sum and pension benefits for section C. What I mean is that is it always paid on the due date (60th Birthday) or is it the first Monday after the birthday, end of that month etc?

[NorthernBoy]

My understanding was that the monthly pension is paid on the last working day of the month. Not sure on the lump sum payment date though.

[renrag40]

Does anyone know if there is any pattern to payment of NRA60 lump sum and pension benefits for section C. What I mean is that is it always paid on the due date (60th Birthday) or is it the first Monday after the birthday, end of that month etc?

I was 60 on 30/9 and received nra60 pension and PCLS on the 30/9.
I received 1 day of monthly pension from both RMPP and RMSPS with 30% held back to cover any tax requirement. The 30% was then paid in the next monthly pension.
So I can only presume that you receive your full PCLS on your birthday and the month that you reach 60 the monthly pension will be paid pro rata at the end of that month.

[freespeech]

Does anyone know if there is any pattern to payment of NRA60 lump sum and pension benefits for section C. What I mean is that is it always paid on the due date (60th Birthday) or is it the first Monday after the birthday, end of that month etc?

I was 60 on 30/9 and received nra60 pension and PCLS on the 30/9.
I received 1 day of monthly pension from both RMPP and RMSPS with 30% held back to cover any tax requirement. The 30% was then paid in the next monthly pension.
So I can only presume that you receive your full PCLS on your birthday and the month that you reach 60 the monthly pension will be paid pro rata at the end of that month.

Thanks......that's a shame....my birthday is 2/4 and as I will have retired before NRA60 is paid I was hoping it would be paid after 6/4 and the new tax year.

[mr hil.]

I know of someone who ignored the paperwork sent to them regarding the pensions and ended up claiming it years after their NRA60 date, effectively losing many years worth of monthly payments. You too could "game the system" by delaying sending the forms back but could lose out if you get the timings wrong.