I turned 65 2 weeks ago and I’m in the process of taking my NRA65 but I’ve noticed I have not had any pension deductions for the past 2 weeks? Should I not be contributing to the new pension scheme?
I’m section C and still working.
Thanks
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Pension deductions
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Jack1960
- EX ROYAL MAIL
- Posts: 333
- Joined: 05 Jan 2016, 17:39
- Gender: Male
Re: Pension deductions
I was 65 in August last year, after 2 months or so i hadnt been enrolled to new scheme, i was sending emails off to try and sort it and eventually did so through the Scottish Widows site. If you do so make sure you pay in at 6 percent so that RM pay 10.
I hope that helps.
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RobertT
- EX ROYAL MAIL
- Posts: 6644
- Joined: 09 Sep 2007, 14:26
- Gender: Male
Re: Pension deductions
I think you mis-understand the rules of auto-enrolment?
If a UK employee isn't contributing to a workplace pension scheme, their company has a legal obligation to auto-enrol them every 3 years.
So it's not a case of stopping paying into one scheme and then immediately starting to pay into another! You'll have to initiate the process yourself.
The only other scheme you can currently join is the RM Defined Contribution Plan via Scottish Widows, which isn't new. It's been in existence since February 2009!
Full details of the RMDCP are here: https://www.scottishwidows.co.uk/save/r ... cplan.html
Links to all RM pension related websites are here