750.00p pension advice money - Transitional scheme - update

[stephen500]

I rang RM HR re the £750.
1st a lady, who did not know about it, asked me to ring RMPP.
I rang RMPP and they forwarded my request to HR and gave me a ref number.
I then rang HR to tell them the request had been forwarded to HR from RMPP.
This time the gentleman at HR knew all about the transitional scheme and said that the lady before was new and didn't know about it.
He could see the forwarded e mail from RMPP, but said they really didn't need to do that, as payment was automatic within a month.
He said that he gets many phone calls from those who have taken their NRA 65 and left the business, asking what is this £750 (before tax and NI) that has landed in their bank account.
He said expect payment in January.

[deltaforce]

Glad to hear that, but I’m not over confident. I had to chase Rmpp for my pension and I’m still chasing Rmsps for their bit .I keep getting auto response emails but no action, ( 15days now). It appears to me if one part of jigsaw messes up they all mess up.
I’m about to escalate things with rsmps. All you need once youve retired.

[stephen500]

Glad to hear that, but I’m not over confident. I had to chase Rmpp for my pension and I’m still chasing Rmsps for their bit .I keep getting auto response emails but no action, ( 15days now). It appears to me if one part of jigsaw messes up they all mess up.
I’m about to escalate things with rsmps. All you need once youve retired.

The £750 is paid after your take your NRA65 and long as you take it before you are 65.
What luck are you having with RMSPS when you ring them.
I know it is no good for you to read this, but my dealings with RMSPS went smoothly.
How far in advance did you request your RMSPS or did you let it run to the NRA.

[deltaforce]

Just checked my bank account. There has a payment been paid today , great stuff. But no email from them of explaination. I’ve got my tax code transferred over. All I want now is £750 from RM. Frustrating at times but starting to pull together.

[tractorboy2]

Does this £750 payment have an end date ? So when the CDC scheme starts this will no longer be paid ?

[stephen500]

Does this £750 payment have an end date ? So when the CDC scheme starts this will no longer be paid ?

https://www.cwu.org/ltb/ltb-533-18-750- ... -payments/
"Until the new CDC Scheme is introduced, transitional support arrangements have therefore been put in place."

[tractorboy2]

Thanks

[Ramon]

I took both nra 60 and nra65 in 2016 when I was aged 58. I retired this year. Am I eligible for the £750 pension payment ? Is very complicated. Many thanks if you can help.

[RobertT]

I took both nra 60 and nra65 in 2016 when I was aged 58. I retired this year. Am I eligible for the £750 pension payment ? Is very complicated. Many thanks if you can help.

The simple answer is no, you're not entitled to it.

It is only payable to those taking their NRA65 benefits and leaving the business between 1st April 2018 and whenever the new CDC scheme is introduced(going by various reports, it seems that will be sometime in 2021).

More info here: https://www.cwu.org/ltb/ltb-533-18-750- ... -payments/

[Ramon]

Thank you for your reply Robert.

[stephen500]

I took both nra 60 and nra65 in 2016 when I was aged 58. I retired this year. Am I eligible for the £750 pension payment ? Is very complicated. Many thanks if you can help.

The simple answer is no, you're not entitled to it.

It is only payable to those taking their NRA65 benefits and leaving the business between 1st April 2018 and whenever the new CDC scheme is introduced(going by various reports, it seems that will be sometime in 2021).

More info here: https://www.cwu.org/ltb/ltb-533-18-750- ... -payments/

Also I was told that you have to have claimed the money within around 13 weeks after leaving the service. (from memory)

[stephen500]

I received a letter today re the £750.

750.jpg

[deltaforce]

Got my £750 transitional lump sum today, less tax and NI. About six weeks waiting time. Hopefully some backdated pay sometime in the new year subject to ballot ofcourse

[Jefferson Starfish]

Got my £750 transitional lump sum today, less tax and NI. About six weeks waiting time. Hopefully some backdated pay sometime in the new year subject to ballot ofcourse

Back pay when you've left the company? Can't see that happening.

[deltaforce]

Depends on the small print but I don’t see why not. I left on good terms and it’s money owed on the hours worked as against a lump sum which is often only paid to those still employed at a certain date.