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Supplement & Lump Sum

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.
RobertT
EX ROYAL MAIL
Posts: 6644
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: Supplement & Lump Sum

Post by RobertT »

postie2007 wrote:
13 Mar 2023, 16:41
Hi another question on this subject, I have been contacted by both RMPP + RMPS stating I am going to receive a supplement, so reading through this thread would I be right in thinking my initial total pension pot was not worked out including the supplement figure. If this was the case surely my tax free amount would have been more.
(Retired 12 weeks ago section c member)
If the supplement is included in the calculations, then yes, your lump sum would have been higher.

Although it's unclear from what you say, whether you'd already taken your pension before you left RM, or you took it at the same time as leaving.
Links to all RM pension related websites are here
postie2007
EX ROYAL MAIL
Posts: 65
Joined: 20 Oct 2011, 09:46
Gender: Male

Re: Supplement & Lump Sum

Post by postie2007 »

Thanks Robert, I took my pensions upon leaving the business on my 60th birthday. The supplement figures are also lower than expected, £398 on last RMPP annual statement actual £104, also RMPS £324 combined on pension quote actual £217. Possible reduction for taking both 60/65 benefits at same time but not sure.