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pension and amount going in

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.
chillo
Posts: 11
Joined: 09 Aug 2017, 15:37
Gender: Male

pension and amount going in

Post by chillo »

I have been off sick for over six months and wondered now my pay has dropped to half then also my amount paid in by me and royal mail has fallen accordingly, my question is does anyone know if this effects the end benefits drastically and can i make up the money not paid in sometime in the future,
Decky Boy
Posts: 440
Joined: 22 May 2009, 10:00
Gender: Male

pension and amount going in

Post by Decky Boy »

If you are paying in less then there there is less opportunity for growth and compounding to take place. It'll depend on which scheme you are in and how it invests your pension subscriptions.

Once you return to full time work your pension contributions will increase accordingly. If the funds your pension invests in are predominantly equities there's a good chance you'll be missing out right now as the markets are making a recovery following historic lows on 23rd March. Get well soon, get back to work.... and keep your fingers crossed like the rest of us.