Hi there and apologies if these question have been asked a million times before!!
Some big assumptions here that I'm lucky enough to get a delivery role (its 24hours perweek - on a six month contract) - but if I am:
Will I be eligible for entry into the pension (being part time and on a six month contract)?
What is the contribution rate is for both employer and employee into the pension please?
Is it a DC or DB scheme for new starters?
Thanks very much in advance and look out for some other very daft 'new starter' questions!!
ANNOUNCEMENT : ALL OF ROYAL MAIL'S EMPLOYMENT POLICIES (AGREEMENTS) AT A GLANCE (Updated 2021)... HERE
ANNOUNCEMENT : PLEASE BE AWARE WE ARE NOT ON FACEBOOK AT ALL!
Potential new starter - pension question
-
soupdiet
- Posts: 4
- Joined: 01 Aug 2013, 15:58
- Gender: Male
-
RobertT
- EX ROYAL MAIL
- Posts: 6645
- Joined: 09 Sep 2007, 14:26
- Gender: Male
Re: Potential new starter - pension question
You will be eligible to join the defined contribution pension scheme after 3 months service.soupdiet wrote:Will I be eligible for entry into the pension (being part time and on a six month contract)?
It can vary from 1, 3, 4 or 5 percent of your pay with RM contributing 1, 2, 3, 5, 6 or 7 percent.What is the contribution rate is for both employer and employee into the pension please?
It's DC for everybody who commences employment after April 2008. Only employees who were employed & in the pension scheme before that date are in the DB plan.Is it a DC or DB scheme for new starters?
A full guide can be found here:
http://zdownload.zurich.co.uk/corporate ... 714073.pdf" onclick="window.open(this.href);return false;
Links to all RM pension related websites are here
-
soupdiet
- Posts: 4
- Joined: 01 Aug 2013, 15:58
- Gender: Male
Re: Potential new starter - pension question
Have just been talking to HR and theyve advised me that I wouldnt be eligible to join the pension for 12 months after starting this 6 month contract.
Have I been misinformed?
Cheers in advance
Have I been misinformed?
Cheers in advance
-
RobertT
- EX ROYAL MAIL
- Posts: 6645
- Joined: 09 Sep 2007, 14:26
- Gender: Male
Re: Potential new starter - pension question
I was going on the info on page 6 of the plan guide which I linked to on my previous post.
I believe the time limit used to be 12 months but that changed when auto-enrollment came in.
I believe the time limit used to be 12 months but that changed when auto-enrollment came in.
Links to all RM pension related websites are here
-
knighty9901
- Posts: 6
- Joined: 04 Nov 2012, 14:33
- Gender: Male
Re: Potential new starter - pension question
Correction -You have been misinformed by HR. I joined the pension scheme (dc) after 3 months in March 2013. I was on a 3 month part-time contract and have had another 6 added. The only option I was allowed was 1% each for employee and employer. I can raise this once I have completed 12 months. It's all in the blurb.