LTB 495/18 - Royal Mail Statutory Pension Scheme (RMSPS) - Change in Administration

[BELIAL]

[fishtank]

Ahh, the cautionary tale of the three little pigs, how you should always expect the worst and build your house out of bricks and not that frivolous straw stuff.

Apart from the fact that not everyone can afford bricks the real solution for the three little pigs fable should have been to purchase a 12 bore shotgun and blow the wolf's f***ing head off.

[RobertT]

Don't knock the savings habit Fish, it's surprising how much difference a small amount of cash can make to your retirement!

Personally I've probably gone a bit mad with my savings over the years and early retirement has become a slight obsession with me, and I realise that not everyone can afford to pile in the cash as I've done.

But if you take just paying into Bonusplan as an example:

My NRA60 won't be enough to live on from age 60, nor will taking my NRA65 early. But the two combined and unreduced at 65 should be enough to survive on(but not really live on) until state pension age.

I've been paying into Bonusplan for over 20 years and in that time have paid in a net amount of around £2,800. Factoring in RM's contributions, tax relief, PSE, and investment growth, my pot has grown to a current value of nearly £16,000, which equates to around a 500% increase on my money.

If I were to take that cash tax free at 60 along with my NRA60 pension and treat it as income over the next 5 years, it would give me roughly the same per year as my NRA65 is going to pay out at 65. So potentially enabling me to retire 5 years early, albeit on a 'just about enough' basis.
And it only costs me just over £2 net(£2.88 gross) per week!

These things are always going come down to personal circumstances and my situation won't necessarily apply to everyone. But I'm sure most people can afford £2 per week to help themselves out a bit in the future!

[k979aaa]

Ahh, the cautionary tale of the three little pigs, how you should always expect the worst and build your house out of bricks and not that frivolous straw stuff.

Apart from the fact that not everyone can afford bricks the real solution for the three little pigs fable should have been to purchase a 12 bore shotgun and blow the wolf's f***ing head off.

It's not the wolf's it's the fat cats they eat our pensions for breakfast and expect us all to go the extra mile or two literally to feather their own nest eggs at the expense of our terms conditions of which one was our pension!