RMSPS online calculator and supplement

[CER]

Hi all,

I think I read it somewhere on here, but can't seem to find the post. Does the online calculator include the supplement which is applicable if you leave RM? I doubt it does but could be wrong! Also, does the supplement reduce if you take the pension early?

Apologies if this has been covered previously.

Thanks

Chris

[NorthernBoy]

Hi all,

I think I read it somewhere on here, but can't seem to find the post. Does the online calculator include the supplement which is applicable if you leave RM? I doubt it does but could be wrong! Also, does the supplement reduce if you take the pension early?

Apologies if this has been covered previously.

Thanks

Chris

On the RMPP website calculator there is a separate box for entering the supplement.

Yes it does reduce if you take it early.

[RobertT]

Hi all,

I think I read it somewhere on here, but can't seem to find the post. Does the online calculator include the supplement which is applicable if you leave RM? I doubt it does but could be wrong! Also, does the supplement reduce if you take the pension early?

Apologies if this has been covered previously.

Thanks

Chris

The RMSPS website doesn't have a calculator but it does have an 'illustrator', which includes all your benefits that come under that scheme.

As far as I'm aware it does include the supplement for section C members.
It's also important to realise it doesn't separate your benefits into Age60 and Age65 either, so your most recent annual statements are probably a more accurate guide when working out what you might get.

The supplement is reduced when taking your benefits before NRA.

For those who've already left or are taking their benefits at the point of leaving, the RMPP calculator suggests the total amount of supplement remains broadly similar if you take your pension early - it's just spread out over a longer period of time.

For those who take their pension while still working for RM and then subsequently leave, I'm not sure whether the supplement is based on what it would have been when you took your pension, or when you leave the company.

[CER]

Thanks for your replies!

I'm not sure how much longer I want to work for this company so will probably send off for some figures.
The online tools are helpful at giving estimates for different retirement timescales.

Thanks again

Chris