How can I work out my pension supplement

[comeracing]

Going at 55 ,with 31 years service

[RobertT]

The supplement is a bit of a grey area, but my understanding is that broadly speaking you get the same amount(possibly a bit less) of supplement in total when you take it early, compared to at NRA. But as it's over a longer period of time, you'll obviously get less per year.

Use the amounts on your last annual statements, do a bit of maths and you should get a rough idea.

[roadrunner bill]

The supplement is a bit of a grey area, but my understanding is that broadly speaking you get the same amount(possibly a bit less) of supplement in total when you take it early, compared to at NRA. But as it's over a longer period of time, you'll obviously get less per year.

Use the amounts on your last annual statements, do a bit of maths and you should get a rough idea.

Hi.. if you take your 60 and 65 pension at 55.... and still work for royal mail.... for another 5 years till 60....

Then leave.... will the supplement be more if you leave at 60..
Or be the same amount it you leave a 55..
As I know ypu only get the supplement when ypu leave royal mail

Ive just read your post again..... I think I understand your post now..

[heapsy]

You don't get the supplement if you continue working. It doesn't increase.

[RobertT]

I've just read your post again..... I think I understand your post now

My original answer was referring to Comeracing's post, who is thinking of leaving at 55.

if you take your 60 and 65 pension at 55.... and still work for royal mail.... for another 5 years till 60....

Then leave.... will the supplement be more if you leave at 60..
Or be the same amount it you leave a 55..

As far as I'm aware it's the latter!
If you take your Age60 pension at 55 while still working for RM, a reduction will also apply to the supplement despite the fact you're not receiving it. When you subsequently leave the company at 60, that reduction will still apply just as it would with the pension itself.

As I know you only get the supplement when you leave royal mail

And it stops when you reach state pension age.

[roadrunner bill]

I've just read your post again..... I think I understand your post now

My original answer was referring to Comeracing's post, who is thinking of leaving at 55.

if you take your 60 and 65 pension at 55.... and still work for royal mail.... for another 5 years till 60....

Then leave.... will the supplement be more if you leave at 60..
Or be the same amount it you leave a 55..

As far as I'm aware it's the latter!
If you take your Age60 pension at 55 while still working for RM, a reduction will also apply to the supplement despite the fact you're not receiving it. When you subsequently leave the company at 60, that reduction will still apply just as it would with the pension itself.

As I know you only get the supplement when you leave royal mail

And it stops when you reach state pension age.

Thank you... when I phoned them. They said its £156 a month.. which is quite good...

[RobertT]

Thank you... when I phoned them. They said its £156 a month.. which is quite good...

Section C members had the Lower Earnings Deduction subtracted from their earnings to make their pensionable pay. That was frozen at £3,328 around 1999/2000 if I remember correctly.

The supplement was accrued on the basis of 1/60th of the LED for each year of membership.

So the longer you were a member and paying into the pension element(1987-2018), the more supplement you'll have, as well as more actual pension.