IHR Message for Robert

[Omega853]

Hi if you have to leave under IHR and are under 60 and its not on the immediate pension what happens to your pension.
For eg if you decide to take your pension early is it made up to what the predicted figures would be for aged 60 ?

If you dont take it can you still contribute ?
And finally what happens to any AVC.
Hope these questions make sense .

[RobertT]

Hi if you have to leave under IHR and are under 60 and its not on the immediate pension what happens to your pension.
For eg if you decide to take your pension early is it made up to what the predicted figures would be for aged 60 ?

If you dont take it can you still contribute ?
And finally what happens to any AVC.
Hope these questions make sense .

Enhancement of pensions with IHR stopped in 2018, so if you take it before NRA the normal early payment reductions will apply.

Once you've left RM there is no ability to carry on paying into their pension schemes.

AVCs can be taken with your NRA60/65 benefits or transferred out separately.

[BenacreNick]

On the subject of AVC's Omega, I received an AVC statement in the post today, so you may do to ?

[Omega853]

Hi thanks for the advice much appreciated

[RobertT]

On the subject of AVC's Omega, I received an AVC statement in the post today, so you may do to ?

Or you can log in to your online account with Scottish Widows, and check how your investments are performing at any time.

[FAB]

On the subject of AVC's Omega, I received an AVC statement in the post today, so you may do to ?

Or you can log in to your online account with Scottish Widows, and check how your investments are performing at any time.

When I got my Scottish widows Bonusplan quote yesterday it came with details of their app. So I downloaded it and set it all up and them as I half expected couldn’t be used for my AVC. Still I can use their web site. Even although the Capita website is fairly rubbish. But at least there is a web site. I wonder when the RMPP at Sheffield will allow you to view your pension online.

[RobertT]

Personally I don't really see the point of the RMSPS 'web portal' as the info isn't even in NRA60/NRA65 format.

I can't see the RMPP going to the trouble of giving us online access, when it won't be long before it also becomes a deferred scheme.

We'll have to wait and see whether the RMCPP gives us online access.

[bensonhedge]

Can you withdraw your AVC RobertT?

[RobertT]

Can you withdraw your AVC RobertT?

Assuming you're talking about Bonusplan and Flexiplan?

You can transfer out your balance to another pension arrangement if you choose to, but you're potentially going to lose more in tax compared to taking it with NRA60 benefits, in particular. Although personal circumstances will always come into it.

You can't transfer it to your bank or savings account, it has to be to another pension!