LUMPSUM

[stodgy88]

what percentage of pension can be converted to a lump sum ,above the standard 25%(poss) thanks

[stodgy88]

WHAT PERCENTAGE CAN YOUR PENSION LUMPSUM BE INCREASED BY (OVER AND ABOVE THE 25%) GIVEN TO POSS MEMBERS -THANKS

[RobertT]

From:
ftp://ftp.royalmail.com/Downloads/publi ... PlanAB.pdf" onclick="window.open(this.href);return false;

Your lump sum
This will also be worked out in 2 parts:
1. For your reckonable service before 1 April 2008
Your lump sum is 3 times the pension earned for this period of service.
plus
2. For your reckonable service on or after 1 April 2008
Your lump sum is 3 times the pension block(s) earned for this period of service.

You can't take more than 25% of the total value of your pension pot as a lump sum.

[stodgy88]

according to baldrick in post EVR in blueshirts forum, you can convert part of pension into a bigger lumpsum--- whos correct------

[TrueBlueTerrier]

DISCLAIMER

Everyone please don't forget that members on here are advising to the best of their knowledge however, even with even the best will in the world we are only amateurs and anyone that really needs a definitive answer, especially with financial matters, are highly recommended to contact the relevant department within Royal Mail directly.

In this case the Pensions Helpline is - 0114 241 4545

Postline No 54564545

email: pensions.helpine@royalmail.com

Address:

Pension Service Centre
PO Box 500
Chesterfield
S49 1WX

Website: http://www.royalmailgroup.com/pensions" onclick="window.open(this.href);return false;

[RobertT]

according to baldrick in post EVR in blueshirts forum, you can convert part of pension into a bigger lumpsum--- whos correct------

You can do this but you can still only take a maximum of 25% of the value of your pension as a lump sum.

If you get a payout as a result of EVR then that is probably in addition to the pension payout.

[baldrick]

WHAT PERCENTAGE CAN YOUR PENSION LUMPSUM BE INCREASED BY (OVER AND ABOVE THE 25%) GIVEN TO POSS MEMBERS -THANKS

I don't know what percentage can be taken as lump sum, but if you have your Annual Pension Statement
from last year it does give the figures. Your Annual Statement for this year should be arriving in the
next few weeks.
As TBT says we are not financial or pensions experts, just fellow OPGs trying to be helpful, and if you
want exact figures you should contact the Pensions Helpline on 0114 241 4545.

[upmyroad]

according to baldrick in post EVR in blueshirts forum, you can convert part of pension into a bigger lumpsum--- whos correct------

Not sure just how it work's but someone who turned at 60 3 years ago in our office got this. pension £13,500 per yr his lump sum was £40,500. From what I can remember he was offered an extra £20,000 for £2000 of his £13,500. so he went with a pension off £11.500 and a lump sum of £60.500. not bad really. and then last yr they offered him another 2 yr's wages he he left on the EVR.

[stodgy88]

thanks ,thought you got option to increase lumpsum,but not sure if youre taxed on it cheers