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!
buy down
-
RobertT
- EX ROYAL MAIL
- Posts: 6645
- Joined: 09 Sep 2007, 14:26
- Gender: Male
Re: buy down
If you’re in the final/average salary pension then I believe the final salary element is now ring fenced and will continue to rise with inflation regardless of hours worked, but I would suggest contacting the pensions service centre to make sure, assuming you can get an informed answer from them!!!
Your potential future pension(NRA65) will obviously be reduced after taking buy down, because you’re working less hours and earning less pay and therefore building up less pension.
Your potential future pension(NRA65) will obviously be reduced after taking buy down, because you’re working less hours and earning less pay and therefore building up less pension.
Links to all RM pension related websites are here
-
Fatboyslim
- EX ROYAL MAIL
- Posts: 117
- Joined: 30 May 2010, 10:27
- Gender: Male
Re: buy down
I have looked into the same problem. I'm thinking about doing the same.
I contacted pensions, both in email and phone. The phone call confirmed what I already thought would happen. The email, was rubbish. Made no sense, and the grammar was absolutely dreadful.
Your NRA 60 has been closed several years. What you have now, cannot be effected by a reduction in hours. The NRA 65 is a different matter though.
I contacted pensions, both in email and phone. The phone call confirmed what I already thought would happen. The email, was rubbish. Made no sense, and the grammar was absolutely dreadful.
Your NRA 60 has been closed several years. What you have now, cannot be effected by a reduction in hours. The NRA 65 is a different matter though.