Early Pension/EVR

[vigomag]

Yet another question.

I am 57 with over 35yrs service If I was to stay in the pension fund am I correct in thinking

Any EVR that could be offered in future would be limited to 26 weeks
or
If I was to come out the Fund totally and take the lump sum and the reductions etc etc any potential future EVR I would receive would 2 yrs pay off?

[RobertT]

The terms of the MTSF agreement were changed a year or so ago. This meant that the total cost to the business of VR/EVR couldn’t be more than 104 weeks pay. So EVR with enhanced pension won’t be offered if it costs the business too much. More info: http://www.royalmailchat.co.uk/communit ... 15&t=71412" onclick="window.open(this.href);return false;

EVR is only offered to members of the Royal Mail Pension Plan(RMPP), which is expected to close in 2018. We don’t yet know what will happen with relation to EVR’s after that date.

[stroller]

With 35 years service and seeing as you are 57 years old you would get 104 weeks VR or EVR payment, and if you were still in the pension scheme your pension would be reduced, all the good deals enhanced pension etc etc are gone for someone of your age and your length of service.

That's if and it is a big if you get offered VR or EVR

[pj2001]

104 weeks but don't forget that you'll pay tax on anything over £30,000, also both your pensions and lump sum payments will be reduced because your taking them early