Pension Supplement

[RobertT]

All the literature says you get the supplement until SPA, as long as you've left RM service.

My reading of that is that your SPA is your SPA and if you choose to defer taking your state pension, then the supplement should still stop. Although I'm not 100% sure.

SPA used to be a fixed 60 for women and 65 for men. But with it now increasing, it sounds like there might be nothing in place to automatically stop supplement payments when you reach SPA? Although I would have thought it could be programmed into the 'system' relatively easily.

[NorthernBoy]

My reading of that is that your SPA is your SPA and if you choose to defer taking your state pension, then the supplement should still stop. Although I'm not 100% sure.


Yes, I would read it that it would stop, but the fact that you are not actually taking the sp may make a difference. I would imagine if you ask the question to the pension centre they will have no idea!

[RobertT]

My reading of that is that your SPA is your SPA and if you choose to defer taking your state pension, then the supplement should still stop. Although I'm not 100% sure.

Yes, I would read it that it would stop, but the fact that you are not actually taking the sp may make a difference. I would imagine if you ask the question to the pension centre they will have no idea!

Yes, you're probably right. Or if 2 people ask the same question, they'll get 2 different answers.

[TheStrangler]

Why wouldn't you take your state pension when you reach that age?

[RobertT]

Why wouldn't you take your state pension when you reach that age?

You can get more by deferring the state pension: https://www.which.co.uk/money/pensions- ... r9w8p0f87w" onclick="window.open(this.href);return false;

Whether it's good idea or not will depend on circumstances.

[lordthornber]

Why wouldn't you take your state pension when you reach that age?

Plenty of reasons. I have RM Pension and private (SIPP) pension. I have little appetite to pay tax on pension income at State pension age so am trying as best as the crystal ball allows to tailor income from the SIPP. My Brother is in exactly the same situation but it it's much easier to work out for him (he's 64). I estimate he will preserve his State pension for about 3 years to avoid the tax. Of course the grim reaper may tax him...

[kh]

It's roughly worth £58 per year of service. Mine is currently worth £1874 for the 32 years of my NRA 60. Plus £500 for the 8 years at NRA 65.

so what is that 0n top of pension if you dont mind me asking

[TheStrangler]

Mine's worked out at a bit under £50 per years service. It's paid by capita for the years you worked up to 2012 and not by the rmpp.

[kh]

Mine's worked out at a bit under £50 per years service. It's paid by capita for the years you worked up to 2012 and not by the rmpp.

thanks but was wanting to know how much a month we would get on pension like £100 or £ 150

[heapsy]

As a matter of interest I've just checked mine. On the last statement, 2019 it says £1,105 final salary supp. + £648 CSDB supp. = £1753. So £146 per month or just short of £33.75 per week. Everyone will be slightly different.

[fly-catchers]

Mine's worked out at a bit under £50 per years service. It's paid by capita for the years you worked up to 2012 and not by the rmpp.

thanks but was wanting to know how much a month we would get on pension like £100 or £ 150

It should show the supplement amount on your annual pension illustration. But roughly works out as £56 per year of service. So total you years of service to March 31st 2018. And them take off 8 years to show your supplement at NRA60. And the 8 years worth is paid at NRA65.

[TheStrangler]

Mine's worked out at a bit under £50 per years service. It's paid by capita for the years you worked up to 2012 and not by the rmpp.

thanks but was wanting to know how much a month we would get on pension like £100 or £ 150

Mine has been quoted as £1,200 so basically £100 a month.
I originally believed it'd be a bit more than that.
I've a feeling as it's attached to nra60 that it's been reduced by 5% a year so 14% reduction on mine.

[heapsy]

£56 per year. I believe we stopped accruing the supplement when the Cash Balance scheme started.

[RobertT]

I believe we stopped accruing the supplement when the Cash Balance scheme started.

Yes we did!

[heapsy]

A case of the section C members getting short changed again.