With all the discussions around pensions and the changes that have occurred over these last few years regarding royal mail pensions, NRA60, NRA65 and now the new agreement (yet to be ratified by members) NRA67. Is there a combined maximum contributory number of years a person pays into his/hers pension pot. If so and they reach the max before the retirement date, is there a payment penalty for taking the pension before the NRA.........
Example , started work at 18 years old, paid into 45 years, reached max at 63 years old, thanks
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RobertT
- EX ROYAL MAIL
- Posts: 6645
- Joined: 09 Sep 2007, 14:26
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The current maximum amount of years you can be a member of the RMPP is 45 years, although if you look back at the info RM sent out regarding their original Cash Balance proposal, that limit was to be removed. Whether that is still the case going forward taking into account the most recent proposals, is not known at this time.
If you take either the NRA60 or NRA65 before those ages you will be hit with a 5% per year reduction.
If you take either the NRA60 or NRA65 before those ages you will be hit with a 5% per year reduction.
Links to all RM pension related websites are here