Defined Contribution plan

rheannah98 · Post by **rheannah98** » 11 Mar 2010, 17:56

I am 61 years old i lifted my pension when I was 60. I have now been on the DEFINED pension scheme for just over a year now however I have had a lot of time off work and may be let go because of ill health!! Could anyone let me know where i stand in regards to this pension scheme and being let go because of ill health??

I have been employed by Royal Mail for over 20 years. Thank you!!

Blade Runner · Post by **Blade Runner** » 11 Mar 2010, 21:00

Thought you stopped paying into the pension fund once you took your pension at 60.

I am 61, took my pension at 60 and stopped paying into the pension fund.

rheannah98 · Post by **rheannah98** » 12 Mar 2010, 14:43

I began paying into the Royal mail Defined Contribution plan because I was planning to continue working for a good few years yet however as i mentioned I have been off work due to ill health and may be laid off. I just need to know where I stand if this happens in regards to this DEFINED plan when i have only been paying it over a year!! Any help would be most appreciated!!

I have been on the royal mail defined contribution plan for over a year but the info i have on this plan does not say where I stand on the basis that they retire me on ill health!! Any Help would be most appreciated

Post by **RobertT** » 12 Mar 2010, 18:20

The defined contribution plan is basically the same as a personal/stakeholder pension so you will not get ill health retirement,just an annuity based on how much it's worth.

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