RMPP NRA 65...No Supplement

[Hawkey99]

I received a quotation for taking this in September.

Just wondered if anyone could confirm there is no supplement with this particular part of your pension. ?

Thanks

[RobertT]

There is a supplement payable for that part of your pension but only for section C members and if you've left the company.

So if you're currently still employed by RM your quote presumably won't include the supplement, unless perhaps you specifically told the RMSPS and RMPP that you're planning on leaving?

If you've taken your pension and are still working, the supplement should be paid when you subsequently leave and until SPA. But knowing that both Capita and the PSC aren't the most efficient, you might have to chase it up.

[Hawkey99]

Thanks Robert,

Im section C and although I had the quote to take my NRA 65 pensions I didn't take it due to VR possibilities.....

The reason why Im not sure you get a supplement with my RMPP NRA 65 is when I took my NRA 60 (When you only had to deal with the pension centre) it clearly stated that I had a pension supplement OF £1044 due and the amount payable after I left RM up until I received my state pension.

When I got my RMSPS NRA 65 quote it also clearly stated that I had a supplement payable OF £139 when leaving RM.

However on my RMPP NRA 65 there is no mention at all of a supplement...???

Just thinking it through I could be to take £139 away from the £1044 which would give me RMPP NRA 65 Supplement..??

I will contact them I think.....

[heapsy]

We only stopped building up further supplement to the pension about 2 years ago. This was because the government keep increasing the state pension age. As most of RM employees are now section C members, this would have increased RM's liabilities, had they not stopped the supplement increasing.

[fly-catchers]

I hope that RMSPS are as good as their word and add the full supplement to my NRA60 pension at the end of this month. Together with arrears going back to the end of November when I actually left.

[RobertT]

Thanks Robert,

Im section C and although I had the quote to take my NRA 65 pensions I didn't take it due to VR possibilities.....

The reason why Im not sure you get a supplement with my RMPP NRA 65 is when I took my NRA 60 (When you only had to deal with the pension centre) it clearly stated that I had a pension supplement OF £1044 due and the amount payable after I left RM up until I received my state pension.

When I got my RMSPS NRA 65 quote it also clearly stated that I had a supplement payable OF £139 when leaving RM.

However on my RMPP NRA 65 there is no mention at all of a supplement...???

Just thinking it through I could be to take £139 away from the £1044 which would give me RMPP NRA 65 Supplement..??

I will contact them I think.....

Did that £1,044 actually relate to both RMPP NRA60 and NRA65?

[RobertT]

We only stopped building up further supplement to the pension about 2 years ago. This was because the government keep increasing the state pension age. As most of RM employees are now section C members, this would have increased RM's liabilities, had they not stopped the supplement increasing.

Section C members get the supplement as part of their benefits, as long as they've left RM.
They stopped building it up from 1st April 2018 because the scheme as a whole closed to future accrual, due to RM's inability and/or unwillingness to continue building up the liabilities that a DB scheme puts on any company.

The state pension age increasing could in turn increase the RMPP's liabilities to some degree, but you can also argue that the increase in NRA from 60 to 65 in 2010 and the fact that many people are working for longer, might actually mean a lower supplement bill for the RMPP.

But the supplement cost to the scheme is nowhere near as much as if the scheme had stayed open to future accrual and we were still building up more pension for life..

The government first announced plans to increase SPA back in the 1990's, so it isn't anything new.

[Hawkey99]

The £1044 was on the paperwork I received when I took my NRA 6O and both of the pensions were administered by the pension centre so yes it would have covered the RMSPS and the RMPP.