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Pension opt out

Royal Mail pension news and discussion.Please note the advise given in this forum is unofficial, please use the links we have for a more detailed response or see an independent financial adviser.
andy0762
Posts: 1
Joined: 22 Apr 2014, 11:47
Gender: Male

Pension opt out

Post by andy0762 »

Hi , Ive been paying towards the pension scheme for about a year now...Just wanted to know if its fine for me to pull out the pension scheme AND reicieve back the money i have put in since starting in the scheme ? Ta, Andy.
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RobertT
EX ROYAL MAIL
Posts: 6645
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: Pension opt out

Post by RobertT »

You'll be in the RM Defined Contribution scheme so, there's nothing stopping you from pulling out of it, but you will recieve only the payments you've made minus tax. You will lose RM's contributions altogether.
More info can be found here:
http://www.zurich.co.uk/worksavings/library/" onclick="window.open(this.href);return false;
Links to all RM pension related websites are here
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arnold cheshire
Posts: 5309
Joined: 14 Oct 2010, 21:28
Gender: Male
Location: england

Re: Pension opt out

Post by arnold cheshire »

andy0762 wrote:Hi , Ive been paying towards the pension scheme for about a year now...Just wanted to know if its fine for me to pull out the pension scheme AND reicieve back the money i have put in since starting in the scheme ? Ta, Andy.
i was thinking the same after paying into it for over 20 years :thumbup
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97lastr
Posts: 1
Joined: 13 May 2013, 11:33
Gender: Male

Pension opt out

Post by 97lastr »

hi

I don't know if my message will be read after so many years since the last (of few) posts but the link on the first section to pension info does not work.
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rambo1
EX ROYAL MAIL
Posts: 3266
Joined: 12 Jun 2013, 20:00
Gender: Male

Pension opt out

Post by rambo1 »

andy0762 wrote:Hi , Ive been paying towards the pension scheme for about a year now...Just wanted to know if its fine for me to pull out the pension scheme AND reicieve back the money i have put in since starting in the scheme ? Ta, Andy.
Wait until 2018 and at least get the £750 sweetener they are proposing. It's sad, but all companies are going this way, even the govt are shafting us. Under the new proposals there isn't even a guaranteed amount your likely to get, I mean, how the hell are you supposed to plan for retirement?
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heapsy
Posts: 2949
Joined: 02 Jun 2007, 23:40
Gender: Male
Location: Drinking with Gangsters

Pension opt out

Post by heapsy »

rambo1 wrote:
andy0762 wrote:Hi , Ive been paying towards the pension scheme for about a year now...Just wanted to know if its fine for me to pull out the pension scheme AND reicieve back the money i have put in since starting in the scheme ? Ta, Andy.
Wait until 2018 and at least get the £750 sweetener they are proposing. It's sad, but all companies are going this way, even the govt are shafting us. Under the new proposals there isn't even a guaranteed amount your likely to get, I mean, how the hell are you supposed to plan for retirement?
You're not. They want you to work until you drop, so you keep paying tax at the highest level possible.
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