NRA60/65 Query

[freespeech]

Just a thought.....I know the current cash balance fund is designed to assist the lump sum of NRA65 but if you had left RM (and not drawn any pension yet), would the NRA60 and 65 benefits be exactly the same regardless of whether you were still with RM (excepting the cash balance of course) or not.

Obviously final salary stopped many years ago so that isn't influencing anything.......is there anything I've missed that still benefits from still being with RM (in terms of the ceased schemes)?

[fly-catchers]

If you are still working at RM your deferred NRA60/65 pensions will increase each year by RPI up to 5%. Once you leave any deferred pensions will change to CPI. Once you reach the NRA that part of the pension will change to RPI increases for Section C. But remain at CPI for Section A/B.

[RobertT]

It's also worth pointing out that we don't yet know exactly how the closure of the RMPP will affect inflationary increases going forward.

I would guess that because every RMPP member will effectively become deferred overnight when CDC starts, there's a good chance the RPI increases gained because people work for RM, might change to CPI.
But hopefully not.