Pension help

dwhite60 · Post by **dwhite60** » 03 Sep 2020, 07:49

Figures have been received from RMPP and also confirmation of pension start date so no problems there. The issue I have is with RMSPS portion of my pension which is the largest part. I have been ringing them (ie Capita) since June! But still no figures received and I turn 60 this month. Nothing else received from anyone since I emailed John Hearn on 01/09/20, I will chase this tomorrow if nothing today.

Post by **Steve_claret** » 03 Sep 2020, 08:58

dwhite60 wrote:Figures have been received from RMPP and also confirmation of pension start date so no problems there. The issue I have is with RMSPS portion of my pension which is the largest part. I have been ringing them (ie Capita) since June! But still no figures received and I turn 60 this month. Nothing else received from anyone since I emailed John Hearn on 01/09/20, I will chase this tomorrow if nothing today.

I turned 60 almost 6 months ago and received my RMSPS Lump Sum 7 weeks after my birthday and the 1st pension payment from the RMSPS at the end of June. It doesn't appear as though anything has improved since. When I queried this with the Cabinet Office they said that there are no guarantees that it will be paid on your birthday but that they will aim to pay it as close as is possible. I had no problems with the RMPP but as both pensions have to be paid out together then the delay with Capita also delayed the RMPP payments. Everything is backdated to your birthday so don't worry as you will receive arrears. They will hold 25% back though for the HMRC to get their hands on their slice.

Post by **freespeech** » 03 Sep 2020, 09:28

Steve_claret wrote:
dwhite60 wrote:Figures have been received from RMPP and also confirmation of pension start date so no problems there. The issue I have is with RMSPS portion of my pension which is the largest part. I have been ringing them (ie Capita) since June! But still no figures received and I turn 60 this month. Nothing else received from anyone since I emailed John Hearn on 01/09/20, I will chase this tomorrow if nothing today.
I turned 60 almost 6 months ago and received my RMSPS Lump Sum 7 weeks after my birthday and the 1st pension payment from the RMSPS at the end of June. It doesn't appear as though anything has improved since. When I queried this with the Cabinet Office they said that there are no guarantees that it will be paid on your birthday but that they will aim to pay it as close as is possible. I had no problems with the RMPP but as both pensions have to be paid out together then the delay with Capita also delayed the RMPP payments. Everything is backdated to your birthday so don't worry as you will receive arrears. They will hold 25% back though for the HMRC to get their hands on their slice.

Their slice of what? The lump sum is tax and NI free?

Post by **Steve_claret** » 03 Sep 2020, 16:00

freespeech wrote:
Steve_claret wrote:
dwhite60 wrote:Figures have been received from RMPP and also confirmation of pension start date so no problems there. The issue I have is with RMSPS portion of my pension which is the largest part. I have been ringing them (ie Capita) since June! But still no figures received and I turn 60 this month. Nothing else received from anyone since I emailed John Hearn on 01/09/20, I will chase this tomorrow if nothing today.
I turned 60 almost 6 months ago and received my RMSPS Lump Sum 7 weeks after my birthday and the 1st pension payment from the RMSPS at the end of June. It doesn't appear as though anything has improved since. When I queried this with the Cabinet Office they said that there are no guarantees that it will be paid on your birthday but that they will aim to pay it as close as is possible. I had no problems with the RMPP but as both pensions have to be paid out together then the delay with Capita also delayed the RMPP payments. Everything is backdated to your birthday so don't worry as you will receive arrears. They will hold 25% back though for the HMRC to get their hands on their slice.
Their slice of what? The lump sum is tax and NI free?

Yep the LS is tax and NI free but you still pay BR tax on your pension if you are still working Full Time. Hence the 25% which was held back by RMSPS. Once your tax situation is resolved then the arrears or what ever is left after paying the BR tax is paid to you.

Jefferson Starfish · Post by **Jefferson Starfish** » 03 Sep 2020, 16:34

Basic rate income tax is 20%.

Post by **Steve_claret** » 03 Sep 2020, 16:41

Jefferson Starfish wrote:Basic rate income tax is 20%.

Correct. Hence why they hold back 25% of any arrears to be on the safe side.

Post by **stephen500** » 03 Sep 2020, 16:58

Just a small extra note.
The EXCESS cash balance money is paid out up to 12 weeks after NRA65 payment as they have to reconcile real pay information with estimated pay (I think this will only apply for those who have not stopped work yet) and then once a reconcillation has taken place (up to 12 weeks, RMPP will pay your EXCESS cash balance scheme money, which for me is nearly £8000)
75% of the EXCESS cash balance scheme is taxable, normally at 20% (about £1100 for me)
The cash balance amount combined with your LS is tax free.
Note two.
I applied in June.
All paperwork received including from RMSPS.
RMPP tell me they have sent all triggers for payment in Nov.
Rmsps tell me they have received all triggers.
They both tell me they are ready to pay in Nov.
I can't understand the problem you are having.
I know of one friend at work who received his 2 days late.
Another 2, that were delayed (early payment) by about a month because they RMSPS or RMPP forgot to send LTA forms, once they sent these back, all went smooth.
Another was about 3 months late, because he had to send a divorce form off (not pensions fault)
Have a look at both these time lines from RMSPS.
First is if you are still paying into RMPP and the 2nd is if you are not.
Which forms have you received so far, what is missing? Go back to them with this time line and where you are up too.

pay in rmpp.jpg

not pay rmpp.jpg

RMPP pension with DBCBS 4.jpg

dwhite60 · Post by **dwhite60** » 05 Sep 2020, 10:04

Thanks very much for the info, I did see the timelines on the website which only added to the stress! I took EVR in 2019 so am no longer working for RMG. I received a call from RMSPS on 03/09/20 with apologies for the delays and the promise of my options being emailed to me by 04/09/20 at the latest. I have since received all figures thank goodness. Not sure if the response was triggered by the emails I sent to Jon Lewis and John Hearne, but would advise anyone else who experience such delays to send emails to these people.