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Pension supplement lump sum

Royal Mail pension news and discussion.Please note the advise given in this forum is unofficial, please use the links we have for a more detailed response or see an independent financial adviser.
aled34
Posts: 10
Joined: 29 Mar 2013, 14:27
Gender: Male

Pension supplement lump sum

Post by aled34 »

I know you don’t get the supplements if you carry on working at Royal Mail after your NR 60/65 age, but was wondering, if you did carry on working after your NR 60/65 , does the supplement get included in your total pension pot for the 25% lump sum element of your pension? Seems unfair to not get anything if you keep on working!
freespeech
MDEC
Posts: 762
Joined: 28 Jun 2007, 16:35

Re: Pension supplement lump sum

Post by freespeech »

aled34 wrote:
20 Jan 2021, 08:18
I know you don’t get the supplements if you carry on working at Royal Mail after your NR 60/65 age, but was wondering, if you did carry on working after your NR 60/65 , does the supplement get included in your total pension pot for the 25% lump sum element of your pension? Seems unfair to not get anything if you keep on working!
I can't see how it would if you are still working. Surely it should be based on your entitlement depending on your choices....which, for you, is remaining at work so no supplement and no consideration of this in the LS.
RobertT
EX ROYAL MAIL
Posts: 6645
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: Pension supplement lump sum

Post by RobertT »

There was someone on here a few weeks back who had asked the PSC the same question, and they'd said that if you're still in RM employment the supplement isn't included when working out the total pot value and so the max lump sum.
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