Section C member age 60 scheme (previous POPS)

[Fishtoft4]

Hi i am weeks away from reaching 60 and have had my quotes through for my age 60 pension under the pension amount is a supplement payment which i believe to be a transferred in supplement as i was originally in the POSSS scheme left and returned. I then rightly or wrongly transferred my POSSS benefits into the then POPS scheme. Would i be correct in assuming that this supplement is paid in line with my pension salary regardless to if i leave at 60 or continue working for Royal Mail and this will not cease even when i am entitled to take my state pension being 66. There is nothing in the paperwork to state this supplement will cease when i reach 66 and draw on my state pension.

Within the same quote it mentioned another supplement that clearly states will not be paid unless i leave the business between 60 & 66 and this will cease at state pension age.

Many thanks

[RobertT]

The way I understand things, is that the section C(formerly POPS) supplement is only payable if you’ve left RM and then stops at state pension age – all the literature says that!

However if you have transferred in a pension from a previous job, then I believe that any supplement associated with that pension, would be payable if you continue to work for RM.

Section B(formerly POSSS) doesn’t provide a supplement and as far as I know based on my 30 years’ service, never has. So I’m not quite sure what you’re quote is telling you. I suggest you contact the pensions people for clarification.

[NWpostie]

Just to clarify, what is the "supplement" ?

What about the rest of your pension do you still get paid that after state retirement age ?

[RobertT]

Just to clarify, what is the "supplement" ?

Section C members get a supplement paid from taking their pension to state pension age, as long as they've left the business. It's been a feature of section C(formerly POPS) since the scheme was introduced in 1987!

What about the rest of your pension do you still get paid that after state retirement age ?

Yes, that's paid until you die and then they'll be a spouses pension too.

Full details are in the plan guide on the pensions website.

[NWpostie]

That's interesting, that why you said in a previous post that section C is better than section B.

Because of the supplement, essentially getting a "state" part early then onto the actual state pension itself.

If you took it at 55 would that kick in or only from 60+ ?

[RobertT]

That's interesting, that why you said in a previous post that section C is better than section B.

I’m not sure I did say that! I’ve always considered section B to be better.

Because of the supplement, essentially getting a "state" part early then onto the actual state pension itself.

Not really! Section B don’t get a supplement, but then again they don’t have the first £3,328 taken off their earnings before their pension is worked out either.

If you took it at 55 would that kick in or only from 60+ ?

If you take your pension and have left RM you’ll get the supplement until state pension age. If you take either NRA60 or NRA65 early, the supplement will be reduced just as the main pension will be.

if you take your pension and continue working for RM, you won't get the supplement until you leave, and then it will stop at SPA.

[Fishtoft4]

Hi all many thanks for your responses i have now been given a definitive answer from pensions and as follows:-

As a section C member formerly POPS my transferred in pension supplement is payable when i draw on my age 60 pension regardless to if i leave or remain employed at Royal Mail and will then cease when i reach state retirement age. I was a previous section B member formerly POSSS left the business and then returned and transferred my section B into my section C hence is why this is a transferred in supplement.

The other pension supplement which is linked to the LEL (lower earnings level) is only payable once i reach 60 and if i leave the business. This is only also paid up to state retirement age.

Really hope this helps anyone in the same situation.

[NWpostie]

Ok RobertT. I must have misread your response on my thread about different section pension scheme benefits.