55 pension questions.

[comeracing]

Time is ticking quickly thank god ,im 55 next June 2027 , so by this time I'd having been in the royal mail pensions for 30 years , I want to take my lump sum and my pension then as well , will I be in 2 pensions started in April 1995 , but got my proper contract in June 1996 ,do I phone up 8 weeks before for my figures, any idea how much I'd receive , the suspense is killing me not knowing be grateful with as much info as possible please

[RobertT]

Your RMSPS annual statements should tell you when your pension start date was.

Across your service, you will have accrued:

Age60(up to 2010)
Age65(2010-2018)
Cash Balance(2018-2024), most to be taken with RMPP Age65.
Collective Plan(Age67)(2024+)

You can get a quote for your Age60 and Age65 via the RMPP website(see online forms), no earlier than 3 months before age 55.
See the RMCPP website for details of the Collective Plan.

Bear in mind the minimum pension access age is increasing to 57 on 6th April 2028 and you're on the cusp of that.
If you're below 57 and already taking a pension at that point, you will be able to continue receiving it. But if you decide not to take your pensions before 6th April 2028, you won't be able to access them until you're aged 57.