IHR

[holly123]

Hi, just a quickie what age do you have to be to get part of your pension if paid off ihr due to arthritis in knees and back and how much in total if just normal ihr thanks

[RobertT]

There are two types of IHR:

1) IHR with lump sum is a payment of 34 weeks pay plus a maximum of another 12 weeks PILON(payment in lieu of notice).
2) IHR with immediate payment of pension will see your pension enhanced up to certain limits. More info can be found by downloading the relevant file here: http://royalmailpensionplan.co.uk/55/pensions-brochures" onclick="window.open(this.href);return false;

There is no age limit to either option but the second one will only be paid if you’re deemed to never be able to work again.

[daveylt]

Hello to all,

First post on this forum and I like to say, thank you to all, for some interesting reading. I am hoping that someone will be able to give me a little advice, Apologises if this has already been asked. I am looking for information on IHR. To keep it short.

On the pension statement, NRA 60, there are three figures
Basic Pension.
Pension Supplement.
Pension Increase.

If getting pension on a none reduced, none enhanced basis, due to IHR, can anyone advise which of these catogories will be paid? I.E. do you still get the supplement until retirement age or is this classed as an enhancement.

Thank you in advance. Dave..

[RobertT]

On the pension statement, NRA 60, there are three figures
Basic Pension.
Pension Supplement.
Pension Increase.

If getting pension on a none reduced, none enhanced basis, due to IHR, can anyone advise which of these catogories will be paid? I.E. do you still get the supplement until retirement age or is this classed as an enhancement.

Thank you in advance. Dave..

Which pension are you in, Section A, B or C? It sounds as if you’re in C but can you clarify please.

Do you mean you taking ‘IHR with lump sum’ and are going to take your pension at the same time or shortly afterwards? The two don’t necessarily go together!
If so you will get your basic pension, a supplement until state pension age(section c) and they will be increased by inflation each year they’re in payment. If you’re taking either your NRA60 or your NRA65 pension before those ages, they will be reduced for early payment as will the supplement and lump sum.


Or are you getting ‘IHR with immediate payment of pension’? In which case it may be enhanced depending on your service. I suggest you look at the guides I linked to in my earlier post for more info.

[daveylt]

Hello Robert,

Thank you for your reply. Sorry I should have been more clear. I left RM several years ago, not knowing there was a possiblity of getting an immediate pension on Ill Health grounds. I have recently applied and been granted immediate pension due to my ongoing health problems. I am Section C.

I have tried to look into what "None reduced, None Enhanced "means in pension terms, but keep throwing up a blank. I do understand if I had still been in RM employment that there would have been an enhancement, (20 years, 6&2/3). But being no longer employed by RM I won't be getting this. But I was unsure as to what payments I may get. i.e. The question over the supplement and if this is also an enhancement?

So I suppose I'm really asking. Having already left the business, having a preserved pension and now getting said pension paid on Ill Health. Will I get Basic Pension, Pension Supplement and Pension Increase. Or will I just get the Basic and Increase figures or even just the basic?

Thank you for taking time to answer. Dave..

[RobertT]

You will get your basic RM pension and the supplement and they will increase with inflation each year. The supplement is not an enhancement, it’s part of your entitlement under the scheme rules but it will stop at state pension age.

To be honest I’m not too sure what you mean by ‘none reduced, none enhanced’ other than exactly what it says. I assume as you’re taking at least some of your pension early i.e before 60 or 65, it won’t be reduced for early payment and it won’t be enhanced either because you’ve already left RM?

[daveylt]

Robert,

Again thank you for your help, I really appreciate the time you have taken and great advice you have given. I think I'm there now. Just one last thing if I may ask. Would you happen to know why the pension increase is shown as a seperate figure?

All the best Dave..

[RobertT]

Still being an employed member of the RMPP I’ve never seen a deferred statement, so to be honest I don’t know why it’s shown as a separate figure.