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Pension advice allowance -New CDC scheme warning

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.
stephen500
EX ROYAL MAIL
Posts: 1458
Joined: 02 Jun 2007, 04:04

Pension advice allowance -New CDC scheme warning

Post by stephen500 »

Note that the pension advice money is only paid
1) If you have taken your NRA 65
2) You have left RM within 13 weeks of taking your NRA 65
3) The New CDC scheme is not in operation?
So and yes I know it is only £750, but if you want it, I think you have to do all of the above and do so before the new scheme comes in.
derricksmyth
Posts: 353
Joined: 13 Sep 2012, 17:58
Gender: Male

Re: Pension advice allowance -New CDC scheme warning

Post by derricksmyth »

Is it true the NRA60 Benefits are getting knocked on the head and when is this likely to come into effect?
RobertT
EX ROYAL MAIL
Posts: 6645
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: Pension advice allowance -New CDC scheme warning

Post by RobertT »

The current scheme is closing fairly soon and being replaced with the new cdc scheme.

What you've already accrued via NRA60/65 benefits can still be taken as usual.
Last edited by RobertT on 12 Feb 2021, 14:01, edited 1 time in total.
Links to all RM pension related websites are here
stephen500
EX ROYAL MAIL
Posts: 1458
Joined: 02 Jun 2007, 04:04

Re: Pension advice allowance -New CDC scheme warning

Post by stephen500 »

derricksmyth wrote:
12 Feb 2021, 07:00
Is it true the NRA60 Benefits are getting knocked on the head and when is this likely to come into effect?
As Robert T says you can still take your NRA 60/65 as normal and indeed your DBCBS.
No one is taking any thing away from you that you have already earned.
onejontwo
EX ROYAL MAIL
Posts: 82
Joined: 16 Apr 2012, 17:08
Gender: Male

Re: Pension advice allowance -New CDC scheme warning

Post by onejontwo »

stephen500 wrote:
11 Feb 2021, 19:57
Note that the pension advice money is only paid
1) If you have taken your NRA 65
2) You have left RM within 13 weeks of taking your NRA 65
3) The New CDC scheme is not in operation?
So and yes I know it is only £750, but if you want it, I think you have to do all of the above and do so before the new scheme comes in.
Once again I'm grateful for any advice given, but having left RM on the 16th January and not applied for my NRA65 until after 16thJanuary, how does the above affect my circumstances? IE. should I wait until NRA65 is granted, which in theory could take me past the 13 weeks of leaving, or should I apply straight away although I've yet to receive my NRA 65? Puzzled!
Hawkey99
Posts: 568
Joined: 23 Oct 2011, 11:19
Gender: Male

Re: Pension advice allowance -New CDC scheme warning

Post by Hawkey99 »

I think I would be tempted to email and ask for guidance of process and explain fully your circumstance.

At least then there is a record of your enquiry....