750.00p pension advice money - Transitional scheme - update

[John J]

Please could Robert T clarify a question for me please.
I left Royal Mail aged 59 in August 2019, taking VR but I deferred taking any pension until my 60th birthday in November 2020.
At that time I took both pensions (NRA60 and 65). I have now spoken to Royal Mail Pension Plan and they have told me I am not entitled to the £750.00 pension advice transitional scheme money as there is a gap between my leaving Royal Mail and claiming my pension. Is that correct information? I was employed by Royal Mail since 1980.

[RobertT]

Please could Robert T clarify a question for me please.
I left Royal Mail aged 59 in August 2019, taking VR but I deferred taking any pension until my 60th birthday in November 2020.
At that time I took both pensions (NRA60 and 65). I have now spoken to Royal Mail Pension Plan and they have told me I am not entitled to the £750.00 pension advice transitional scheme money as there is a gap between my leaving Royal Mail and claiming my pension. Is that correct information? I was employed by Royal Mail since 1980.

Yes, that is correct.

To qualify for the £750 you have to take your NRA65 and leave RM during the transitional period, which is between 1st April 2018 and when the new CDC pension starts(expected sometime in 2021).

There is also a grace period of 13 weeks between leaving and taking your pension to qualify for the money. In your case there was a gap of over a year, therefore you don't qualify I'm afraid.

https://www.cwu.org/ltb/ltb-533-18-750- ... -payments/

[John J]

Thanks very much for replying. I didn't realise that was the case. Maybe they could inform people who take VR or leave under other circumstances.

[stephen500]

Thanks very much for replying. I didn't realise that was the case. Maybe they could inform people who take VR or leave under other circumstances.

I never knew about the 13 weeks till they told me, I never saw that written down any where. Lucky for me I then knew about it and planned to leave within 13 weeks and did. My payment is due at the end of Jan 21.

[fly-catchers]

Thanks very much for replying. I didn't realise that was the case. Maybe they could inform people who take VR or leave under other circumstances.

I never knew about the 13 weeks till they told me, I never saw that written down any where. Lucky for me I then knew about it and planned to leave within 13 weeks and did. My payment is due at the end of Jan 21.

Guess the 13 weeks don't work the other way? You leave RM and within the following 13 weeks take your NRA65.

[stephen500]

Thanks very much for replying. I didn't realise that was the case. Maybe they could inform people who take VR or leave under other circumstances.

I never knew about the 13 weeks till they told me, I never saw that written down any where. Lucky for me I then knew about it and planned to leave within 13 weeks and did. My payment is due at the end of Jan 21.

Guess the 13 weeks don't work the other way? You leave RM and within the following 13 weeks take your NRA65.

I can't be sure, but getting your timing right might be hard. All of this will eventully come up against the brick wall of the new CDC scheme, because once that comes end this money ends.