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Leaving the company. What to do with pension?

Royal Mail pension news and discussion.Please note the advise given in this forum is unofficial, please use the links we have for a more detailed response or see an independent financial adviser.
Jforjuventus
Posts: 12
Joined: 08 Feb 2015, 15:30
Gender: Male

Leaving the company. What to do with pension?

Post by Jforjuventus »

I'm leaving RM in May. Pensions have never been my forté, I'm only 30 and whilst I have paid into it for the previous five years the concept of retirement isn't on my agenda right now. What could or should I do about my pension when I leave? I believe I can transfer the last 12 months or so into another pension if I desire? Everything leading up to that though, will that just sit in a pot ready for my retirement 35 or so years down the line? Is there somewhere I can easily access my pension account and see what it amounts to?

I'm sure this topic has likely already been discussed so if anyone could advise me or link me to a previous discussion thread I'd be very grateful.
RobertT
EX ROYAL MAIL
Posts: 6645
Joined: 09 Sep 2007, 14:26
Gender: Male

Leaving the company. What to do with pension?

Post by RobertT »

With 5 years’ service, you’ll be in the RM Defined Contribution Plan managed by Zurich.
You can either keep it where it is or transfer it to another pension scheme. Which could be either one provided by your new employer or a private one.
Online access is available to view your pension account.

Full plan details are here: https://www.zurich.co.uk/internet/works ... 716529.pdf" onclick="window.open(this.href);return false;
Links to all RM pension related websites are here