I don't understand any of that, does that mean I get my full pension with no reduction?baldrick wrote:Appendix 6heckster wrote:ive read all this document, I aint the brightest but I couldnt see any part where it says pension and lump sum isn't reduced if you are offered evr?baldrick wrote:It is in the Managing the Surplus Framework agreement (MTSF 2010). Fishtank has posted a link to that agreement in the Downloads section. Read it for yourself.heckster wrote:But if Royal Mail offer you Voluntary Redundancy/Early Voluntary Retirement, and you accept it, the pension and lump sum are not reduced, they are slightly enhanced.
can someone confirm this is true?
Voluntary Redundancy Terms
2.4 EMPLOYEES AGED 55-64 WHO ARE MEMBERS OF THE PLAN
2.4.1 MEMBERS OF SECTION A/B OF THE PLAN (formerly POSSS)
Pension
Immediate payment of pension benefits accrued to date:
PLUS
An additional credit of 37.5% of the Reckonable Service (pro-rata according to the hours worked in the case of part-time employees) which would have been attained if service had continued to 65, provided that in no case shall Reckonable Service be increased to more than double its' length and subject to HMRC limits and the rules of the Plan.
.........etc
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!
vr and pension ??????
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heckster
- Posts: 48
- Joined: 03 Jul 2012, 18:01
- Gender: Male
Re: vr and pension ??????
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Tman
- Posts: 4129
- Joined: 21 Oct 2007, 09:57
Re: vr and pension ??????
See the bit in red above? It says "benefits accrued to date" PLUS the remaining years etc enhanced by 37.5% and that is how your pension and lump sum would be calculated.
Which part is so hard to grasp?
Which part is so hard to grasp?