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Lump sum for deferred member.

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.
lordthornber
Posts: 94
Joined: 27 Jul 2016, 11:58
Gender: Male

Lump sum for deferred member.

Post by lordthornber »

Hello, I imagine this is a "how long is a piece of string" question but here goes.
I left in '04 with 14 years service and have just received my annual statement, which shows just under £5k a year.
Does anyone have even the remotest clue what the lump sum would be please? I will be 55 soon and for personal reasons may well take the 25% reduction.
RobertT
EX ROYAL MAIL
Posts: 6645
Joined: 09 Sep 2007, 14:26
Gender: Male

Lump sum for deferred member.

Post by RobertT »

As a rough guess I’d say a lump sum of around £18,500 leaving a pension of about £2,800 per year.

If you’re with 3 months(I think) of 55 you should be able to get a quote if you contact the pensions people.
Links to all RM pension related websites are here
lordthornber
Posts: 94
Joined: 27 Jul 2016, 11:58
Gender: Male

Lump sum for deferred member.

Post by lordthornber »

Hello Robert, many thanks for your response. That would be very useful if even close to that amount, cheers.