Just got statement -NRA 60 has dropped?

Post by **NorthernBoy** » 02 Oct 2020, 16:29

I have just had my statement from capita for NRA 60 benefits and NRA 65. My NRA 60 total has dropped by £1200, how can this be right?

The supplement is the same as last year and “increases” have gone up a little but the basic pension is down by £1200+

Am I missing something here or is this a genuine error. I am a deferred member who left in 2014.

Any help / advice appreciated...

Thanks

Post by **RobertT** » 02 Oct 2020, 19:10

Assuming you're not somehow getting mixed up between RMSPS/RMPP, final salary/CSDB or NRA60/NRA65, to be honest I don't know.

Sorry I can't be of more help.

Post by **NorthernBoy** » 02 Oct 2020, 19:19

RobertT wrote:Assuming you're not somehow getting mixed up between RMSPS/RMPP, final salary/CSDB or NRA60/NRA65, to be honest I don't know.

Sorry I can't be of more help.

Thanks.

Has anyone had both statements through yet?

Woody Guthrie · Post by **Woody Guthrie** » 02 Oct 2020, 19:59

I suspect since I just got mine today that it's the RMSPS statement that you're looking at.
This only includes benefits built up to April 1st 2012.
You will receive your RMPP valuation separately which explains the discrepancy.

Post by **NorthernBoy** » 02 Oct 2020, 21:31

Woody Guthrie wrote:I suspect since I just got mine today that it's the RMSPS statement that you're looking at.
This only includes benefits built up to April 1st 2012.
You will receive your RMPP valuation separately which explains the discrepancy.

Yes, it’s the rmsps one, thanks for the info.

renrag40 · Post by **renrag40** » 02 Oct 2020, 21:41

My DB pensionable pay on the 2019 statement was around £25000.... on RMSPS statement just received it is around £21000. It says in the statement that the lower figure was my pensionable pay when the DB was closed.
I think RMPP are responsible for the yearly increase since...... so the difference between the 2 figures should be on the RMPP pension statement.
Bearing in mind we have this year gone from 1 pension statement per year to 2...... you know?! To make it easier for members to understand it!!!! NOT!!!!

Post by **stephen500** » 04 Oct 2020, 14:40

NorthernBoy wrote:I have just had my statement from capita for NRA 60 benefits and NRA 65. My NRA 60 total has dropped by £1200, how can this be right?

The supplement is the same as last year and “increases” have gone up a little but the basic pension is down by £1200+

Am I missing something here or is this a genuine error. I am a deferred member who left in 2014.

Any help / advice appreciated...

Thanks

My one was pretty much spot on and I suspect yours is too. It's just that now you have to think it maybe shown in a different way ie this is the NRA 60 and NRA 65 up to 2012.
Wait till you get your NRA 65 from RMPP.

Post by **stephen500** » 04 Oct 2020, 14:42

renrag40 wrote:My DB pensionable pay on the 2019 statement was around £25000.... on RMSPS statement just received it is around £21000. It says in the statement that the lower figure was my pensionable pay when the DB was closed.
I think RMPP are responsible for the yearly increase since...... so the difference between the 2 figures should be on the RMPP pension statement.
Bearing in mind we have this year gone from 1 pension statement per year to 2...... you know?! To make it easier for members to understand it!!!! NOT!!!!

Yes look at your pensionable pay. It was frozen in the RMSPS statement at the date the scheme closed, whilst I suspect the other money you talk about (the yearly increase) will be on the RMPP statement as you say.

Post by **RobertT** » 04 Oct 2020, 15:04

stephen500 wrote:
renrag40 wrote:My DB pensionable pay on the 2019 statement was around £25000.... on RMSPS statement just received it is around £21000. It says in the statement that the lower figure was my pensionable pay when the DB was closed.
I think RMPP are responsible for the yearly increase since...... so the difference between the 2 figures should be on the RMPP pension statement.
Bearing in mind we have this year gone from 1 pension statement per year to 2...... you know?! To make it easier for members to understand it!!!! NOT!!!!
Yes look at your pensionable pay. It was frozen in the RMSPS statement at the date the scheme closed, whilst I suspect the other money you talk about (the yearly increase) will be on the RMPP statement as you say.

My first impression with the RMSPS statement was that's it's wrong – my pensionable pay has dropped by around £3,500 and therefore the pension figures are also lower than I might have expected. Although there is now the 'pension increase amount', which has never featured on any of my annual illustrations before,

After getting my brain in gear, my NRA60 pension entitlement has gone up from last year and I agree any difference should be made up on the RMPP statement.

Post by **stephen500** » 06 Oct 2020, 17:30

RobertT wrote:
stephen500 wrote:
renrag40 wrote:My DB pensionable pay on the 2019 statement was around £25000.... on RMSPS statement just received it is around £21000. It says in the statement that the lower figure was my pensionable pay when the DB was closed.
I think RMPP are responsible for the yearly increase since...... so the difference between the 2 figures should be on the RMPP pension statement.
Bearing in mind we have this year gone from 1 pension statement per year to 2...... you know?! To make it easier for members to understand it!!!! NOT!!!!
Yes look at your pensionable pay. It was frozen in the RMSPS statement at the date the scheme closed, whilst I suspect the other money you talk about (the yearly increase) will be on the RMPP statement as you say.
My first impression with the RMSPS statement was that's it's wrong – my pensionable pay has dropped by around £3,500 and therefore the pension figures are also lower than I might have expected. Although there is now the 'pension increase amount', which has never featured on any of my annual illustrations before,

After getting my brain in gear, my NRA60 pension entitlement has gone up from last year and I agree any difference should be made up on the RMPP statement.

It does state, that "The final pensionable pay. This is the pay used to calculate benefits you built up before 1st April 2008. It is based on your pay at the time you stopped building up benefits in the RMSPS. Any additional benefits that you may receive as a result of pay increases after 1 April 2012 are paid by RMPP"
For me the RMSPS statement was nearly spot on for what I am going to get (although they show the min lump sum).
New RMSPS illustration : pension with min/standard lump sum £11,192.62 V Actual pension benefits that would have been paid this Nov, if I had chosen this option £11,211.58
New RMSPS illustration : standard lump sum £33,577.66 V Actual standard/'min Lump sum show on retirement benefits due in Nov 2020 £33,370.89
The lump sum is a couple of hundered pounds out (I actually appear to be due £200 less) and the standard pension, I am actually better off by £18.96
With the NRA 65 of RMSPS, I am slightly better off for my benefits shown for Nov 2020. A couple of hundered pounds for the lump sum and about thirty pounds for the yearly pension per year.

Post by **Steve_claret** » 07 Oct 2020, 09:13

renrag40 wrote: Bearing in mind we have this year gone from 1 pension statement per year to 2...... you know?! To make it easier for members to understand it!!!! NOT!!!!

We will get 2 statements this year for RMSPS (pre 2012) and RMPP (post 2012) which each split your pensions between what you get at 60 and what you get at 65. Add both statements together to find your total 60 pension and your total 65 pension. Surely this is far easier to understand than the previous single statement which didn't even split your 60 & 65 pension figures which you had to do yourself.

Post by **tractorboy2** » 07 Oct 2020, 09:19

What date is the Total Service figure up to ? Is it Mar 31 2012 ?

Post by **Steve_claret** » 07 Oct 2020, 10:56

tractorboy2 wrote:What date is the Total Service figure up to ? Is it Mar 31 2012 ?

For the RMSPS (Capita) part of your pension then yes it is.

SHug5 · Post by **SHug5** » 07 Oct 2020, 13:59

I got the RMSPS statement through but not the RMPP statement as yet..Has anyone had both statements through yet as will need both to add together to compare to last years single statement version.

Post by **Steve_claret** » 07 Oct 2020, 16:47

SHug5 wrote:I got the RMSPS statement through but not the RMPP statement as yet. Has anyone had both statements through yet as will need both to add together to compare to last years single statement version.

I haven't received the RMPP statement and it doesn't appear as though anybody else on here has either. I think it was probably a bit too much to expect that both statements would be mailed out at roughly the same time but I'm surprised that Capita appear more on the ball than Royal Mail.