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FINAL SALARY NRA 60

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.
fryer
Posts: 5
Joined: 13 May 2022, 19:51
Gender: Female

FINAL SALARY NRA 60

Post by fryer »

Hi....
so my question is regarding the NRA 60 final salary pension which closed in 2008.
im hoping to not need this until im 60.
is the value of the annual pension frozen in relation to what my salary was when it closed, or, if i reduce my hours to part time, will the nra 60 pension be valued at those lower contracted hours when i eventually claim it?
thanks.
RobertT
EX ROYAL MAIL
Posts: 6644
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: FINAL SALARY NRA 60

Post by RobertT »

The pension you've already accrued won't go down if you reduce your hours, but what you build up going forward from any decision to go part time, would obviously be less.

NRA60 actually relates to pension accrued up to 31st March 2010, so includes all final salary and the first 2 years of CARE.
Links to all RM pension related websites are here
fryer
Posts: 5
Joined: 13 May 2022, 19:51
Gender: Female

Re: FINAL SALARY NRA 60

Post by fryer »

Thanks for that response RobertT.
Exactly what i wanted to hear, about the NRA60 anyway.