Pse differerent payment

[rjack]

We were talking about our pay today and some of us have a -20.68 pse adj. and others on same hours have -16.46 can you help Robert

[arnold cheshire]

S

We were talking about our pay today and some of us have a -20.68 pse adj. and others on same hours have -16.46 can you help Robert

Some pay 6 % some newer posties pay 4%

[toomuchcoke]

S

We were talking about our pay today and some of us have a -20.68 pse adj. and others on same hours have -16.46 can you help Robert

Some pay 6 % some newer posties pay 4%

It used to be the case that you pay in 3%, 4% or 5% into the pension. (Well you could pay more than 5% if you wanted, but it didn't result in any extra from the Royal Mail.) Then they changed it to 4%, 5% or 6% and increased the matching payment from Royal Mail by 1% too.

Presumably the payslips in question will tell you how much each person is contributing? Certainly my payslips says "PSE Adj RMDCP 6% -24.35".

[RobertT]

I agree with the other comments - it depends on how much you pay into your pension.

Members of the RMPP (joined pension before April 2008) pay a standard 6% of their pensionable pay.

Members of the RMDCP (joined pension after April 2008) will now pay either 4%, 5% or 6% depending on what they have chosen and those amounts will be matched by RM with 7%, 8% or 9% respectively.

So not only will a paying higher percentage increase your pension, but with the introduction of PSE, it will save you more NIC's aswell.

[rjack]

Thanks the rest of us are in rmpp c he is in rmpp a