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New pension illustration observation

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.
fly-catchers
EX ROYAL MAIL
Posts: 573
Joined: 05 Oct 2008, 16:38
Gender: Male

New pension illustration observation

Post by fly-catchers »

Two things stand out. First my Benefits that get paid when I die both the lump sum and pension are quite a bit less than 2017 and 2016 illustrations. And also for the first time the CSDB pensionable salary is higher than Your pensionable salary...
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stephen500
EX ROYAL MAIL
Posts: 1458
Joined: 02 Jun 2007, 04:04

New pension illustration observation

Post by stephen500 »

fly-catchers wrote:Two things stand out. First my Benefits that get paid when I die both the lump sum and pension are quite a bit less than 2017 and 2016 illustrations. And also for the first time the CSDB pensionable salary is higher than Your pensionable salary...
The lump sum is the min for section B. Max is available. As for why CSDB pensionable allowances are more, I don't know the answer to that. My allowances have not changed overall?
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RobertT
EX ROYAL MAIL
Posts: 6645
Joined: 09 Sep 2007, 14:26
Gender: Male

New pension illustration observation

Post by RobertT »

fly-catchers wrote:Two things stand out. First my Benefits that get paid when I die both the lump sum and pension are quite a bit less than 2017 and 2016 illustrations. And also for the first time the CSDB pensionable salary is higher than Your pensionable salary...
My death in service benefits have been slowly growing for the past few years(I haven't looked back any further). At a guess yours have gone down because you've taken some or all of your pension, but are still working for RM? Or you've reduced your hours?
There's some info on that in your plan guide.

The difference in pensionable salary and CSDB pensionable salary is defined on page 7 of your 2018 illustration.
Links to all RM pension related websites are here
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streets97
Posts: 92
Joined: 13 Oct 2010, 21:43
Gender: Male

New pension illustration observation

Post by streets97 »

Just looked at mine and all of my benefits have increased.
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rambo1
EX ROYAL MAIL
Posts: 3266
Joined: 12 Jun 2013, 20:00
Gender: Male

New pension illustration observation

Post by rambo1 »

My death benefits are better than my pension will be! Better watch out, I'm worth more to the Mrs dead than alive :shock:
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stephen500
EX ROYAL MAIL
Posts: 1458
Joined: 02 Jun 2007, 04:04

New pension illustration observation

Post by stephen500 »

rambo1 wrote:My death benefits are better than my pension will be! Better watch out, I'm worth more to the Mrs dead than alive :shock:
Pension illustration should not include the extra death in service in the DBCBS. So i think you would get more.
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