pension contribution

[benmar]

Hi everyone i pay £83 per month into the pension, does anyone now how many £s royal mail put in per month please?

[RobertT]

Which scheme are you in?
The final/average salary scheme(joined pension before April 2008) or the defined contribution scheme(joined after April 2008).

[benmar]

i am in pension plan c standard i joined in october 2007 thanks

[RobertT]

Members of the final/average salary pension scheme pay 6% of their pensionable pay with the Royal Mail paying in whatever is enough to keep the scheme funded. The last time I heard, the amount in percentage terms was about 19% I think, so just over 3 times as much.

Whether that RM percentage still applies, to be honest I don’t know and would have to try and find that out. But whatever they pay in, that scheme is well worth being a member of, as £83 per month is not much in pension terms and would get you a lot less pension and less certainty elsewhere.

[benmar]

thanks for your help robert, happy i decided to be in the pension

[camila]

I thought for 1 minute that he had made £13000 from selling our PDA's,now that would be some achievement.

[nataddick]

Royal Mail Pension Plan Full Report & Accounts 2013/4 states on page 10 :-

Contributions

Contributions to the Plan, which in total amounted to £567 million during the year, were received in accordance with the schedule of contributions as shown in the Trustee’s Summary of Contributions (page 37). Both RMG and POL paid employer contributions of 17.1% of pensionable pay throughout the period.

Here is the link to download the Full Report & Accounts for anyone interested :-

http://www.royalmailpensionplan.co.uk/5 ... d-accounts" onclick="window.open(this.href);return false;

[benmar]

thanks nataddick, so add that up as royal mail pay about £280 per month into our pension pot, that seams a good deal to me, do you think thats right?