RMPP Ilustration

Post by **stephen500** » 12 Oct 2020, 17:04

I think with the help of Robert T I have got better at forecasting my pension.
But I still can't get my head around this.
In total there are only 10 total CSDB blocks.
In this video they state RMPP are looking after the blocks since 2012 - To my mind that is "6" blocks. Yet here they show "8" blocks.
They also state "capita" are responsible for blocks from 2008 to 2012. That equals four blocks.
4 + 8 equals 12 and we only have 10 blocks in total.
Where am I going wrong with this?

b csdb blocks.jpg

https://www.royalmailpensionplan.co.uk/ ... ia-library
How

Post by **RobertT** » 12 Oct 2020, 17:08

So how many blocks does it say on your RMPP illustration?

Mine says 6, which is the correct number!

Post by **stephen500** » 12 Oct 2020, 17:11

I have been trying to work out what available lump sums are available to a section C member (colleague).
Robert T (I think I am right) has told me that the "pension supplement" can be used to figure out the "pot value" Pension x 20 and then I find 25% of that pot for the available 25% tax free lump sum. As long as, if I remember what Robert T told me, that they leave Royal Mail employment.
If they don't then we cannot use the supplement.
Could you confirm, Robert T, that I have understood what you said and have I got that right?
Many thanks.

Post by **stephen500** » 12 Oct 2020, 17:13

RobertT wrote:So how many blocks does it say on your RMPP illustration?

Mine says 6, which is the correct number!

I have not had the new style RMPP illustration. I have had the RMSPS (Perhaps I am not getting an RMPP one as I have asked for my pension and it will be in payment in Nov)
I am taking this off the video, perhaps I should not take it so literally.

Post by **RobertT** » 12 Oct 2020, 17:14

stephen500 wrote:I have been trying to work out what available lump sums are available to a section C member (colleague).
Robert T (I think I am right) has told me that the "pension supplement" can be used to figure out the "pot value" Pension x 20 and then I find 25% of that pot for the available 25% tax free lump sum. As long as, if I remember what Robert T told me, that they leave Royal Mail employment.
If they don't then we cannot use the supplement.
Could you confirm, Robert T, that I have understood what you said and have I got that right?
Many thanks.

Yes, I believe that to be correct.
If you're leaving RM include the supplement in your calculations, as per page 12 of the plan guide. If you're going to remain in RM employment, don't include the supplement.

Post by **stephen500** » 12 Oct 2020, 17:15

RobertT wrote:
stephen500 wrote:I have been trying to work out what available lump sums are available to a section C member (colleague).
Robert T (I think I am right) has told me that the "pension supplement" can be used to figure out the "pot value" Pension x 20 and then I find 25% of that pot for the available 25% tax free lump sum. As long as, if I remember what Robert T told me, that they leave Royal Mail employment.
If they don't then we cannot use the supplement.
Could you confirm, Robert T, that I have understood what you said and have I got that right?
Many thanks.
Yes, I believe that to be correct.
If you're leaving RM include the supplement in your calculations, as per page 12 of the plan guide. If you're going to remain in RM employment, don't include the supplement.

Many thanks.

Post by **RobertT** » 12 Oct 2020, 17:16

stephen500 wrote:
RobertT wrote:So how many blocks does it say on your RMPP illustration?

Mine says 6, which is the correct number!
I have not had the new style RMPP illustration. I have had the RMSPS (Perhaps I am not getting an RMPP one as I have asked for my pension and it will be in payment in Nov)
I am taking this off the video, perhaps I should not take it so literally.

Probably just an error on the video.

Post by **arsenalbob** » 12 Oct 2020, 18:18

I’ve added my two NRA65 figures together from the two statements and I’m £100 down on last year. And that’s including the inflation increase. Am I missing something? Apart from the 100 quid

Post by **RobertT** » 12 Oct 2020, 18:43

arsenalbob wrote:I’ve added my two NRA65 figures together from the two statements and I’m £100 down on last year. And that’s including the inflation increase. Am I missing something? Apart from the 100 quid

With so little information it's impossible to say, other than are you sure you've included all the figures? The section C supplement perhaps, if that applies?

Post by **arsenalbob** » 12 Oct 2020, 18:51

I’ve not added the supplement in from either year as I intend staying to state pension age

Post by **RobertT** » 12 Oct 2020, 19:20

arsenalbob wrote:I’ve not added the supplement in from either year as I intend staying to state pension age

To be honest I'm not sure.

But presumably if you know 2019's NRA65 figures, you've already taken your NRA60? Because the illustrations obviously weren't in NRA60/NRA65 format last year.

Post by **arsenalbob** » 12 Oct 2020, 19:37

Yes I took the NRA 60 benefits years ago. I’m 65 in March so not long to go before I get the final figures. I’ll take the AVC pot at the same time

heapsy · Post by **heapsy** » 12 Oct 2020, 21:16

RobertT wrote:So how many blocks does it say on your RMPP illustration?

Mine says 6, which is the correct number!

Mine also. The bit I'm struggling with is the Capita benefits. Are we due another statement?

fatboypaul · Post by **fatboypaul** » 12 Oct 2020, 21:18

On my 2020 illustration
My nra 60 Has gone down by £100
And my nra 65 has gone down by £1400 so got no idea what’s going on. Emailed both but no reply

Post by **RobertT** » 13 Oct 2020, 04:44

heapsy wrote:
RobertT wrote:So how many blocks does it say on your RMPP illustration?

Mine says 6, which is the correct number!
Mine also. The bit I'm struggling with is the Capita benefits. Are we due another statement?

Most people seem to have had their RMSPS illustrations, while the RMPP ones have been coming through over the last few days.

If we had another one from the RMSPS, what would it include?