2 Pensions and more.....

Hawkey99 · Post by **Hawkey99** » 25 Oct 2019, 15:11

I have just taken my NRA 60 pension and have today received my final paperwork.

Its says I will receive 2 pensions paid separately each month.

The small one is for £371 per year. I also received a lump sum from the small pension of £2474. I made it clear to them that I wanted to continue paying into my current pension and they said that the small pension was linked to the NRA 60.

According to the paperwork the bigger pension is from RMSPS and the smaller pension is from RMPP.

How complicated can they make it. I thought I would only have 1 NRA 60, an NRA 65 and the new pension.

Just thought i would post for comments and to help anyone else getting their pension soon.

Post by **RobertT** » 25 Oct 2019, 15:36

A short explanation can be found on page 3 of your plan guide!

The RMSPS is responsible for paying benefits up to 31st March 2012, while it's the RMPP for benefits accrued afterwards.

Your pre 2012 benefits continued to increase by inflation after 2012 and those inflationary increases are paid by the RMPP.

Although your NRA60 pension benefits only apply to what you accrued up to 31st March 2010.

deltaforce · Post by **deltaforce** » 25 Oct 2019, 15:41

That’s because part of your pension comes from the scheme the government took over to enable the Royal Mail sell off , now administered by Capita

k979aaa · Post by **k979aaa** » 26 Oct 2019, 20:06

Lucky bugger I have 3 and counting

Post by **hatter68** » 27 Oct 2019, 10:42

I am due to receive my NRA 60 benefits in January but have to send details of all other past employment pension benefits, and sign lifetime allowance form. Seems bit confusing but phoned helpline they said send photo copies and they would work it out.

Dorset Plodder · Post by **Dorset Plodder** » 03 Nov 2019, 15:10

hatter68 wrote:I am due to receive my NRA 60 benefits in January but have to send details of all other past employment pension benefits, and sign lifetime allowance form. Seems bit confusing but phoned helpline they said send photo copies and they would work it out.

Why would RM be concerned with "Past Employment Pension Benefits" ? Surely what you've earned previously has nothing to do with what RM is going to pay you?

Post by **RobertT** » 03 Nov 2019, 15:40

Dorset Plodder wrote:
hatter68 wrote:I am due to receive my NRA 60 benefits in January but have to send details of all other past employment pension benefits, and sign lifetime allowance form. Seems bit confusing but phoned helpline they said send photo copies and they would work it out.
Why would RM be concerned with "Past Employment Pension Benefits" ? Surely what you've earned previously has nothing to do with what RM is going to pay you?

It's to do with lifetime allowance rules, where currently if you have pensions worth more than £1,055,000, anything over would be taxed – potentially by as much 55% depending on how you take it.

In practice it's not likely to affect too many posties, if any, but the RM pensions dept. have to legally go through the process anyway.

Lifetime allowance info: https://www.gov.uk/tax-on-your-private- ... -allowance" onclick="window.open(this.href);return false;

Dorset Plodder · Post by **Dorset Plodder** » 03 Nov 2019, 22:26

Cheers Robert T . I think I might just get under that limit.

I love it when common sense is just replaced by the "It's a Legal Requirement .... It applies to everyone" argument.