Last day 28th November!

Post by **fly-catchers** » 06 Nov 2020, 21:06

I finally made up my mind and am out after 28th November! Be interested to see how straightforward or not getting the bulk of the Section C supplement works out. And getting the tax adjusted. Plenty of phone calls ahead I expect.. Hopefully my completely knackered feelings will gradually go away as I get 32 years service out of my system!

Hawkey99 · Post by **Hawkey99** » 07 Nov 2020, 00:57

Enjoy every second......Life is short.

Have you already taken both pensions ?

lordthornber · Post by **lordthornber** » 07 Nov 2020, 08:36

Enjoy it. The pension, etc etc will get sorted, don't let it consume you. Start looking forward.

Post by **fly-catchers** » 07 Nov 2020, 18:26

Hawkey99 wrote:Enjoy every second......Life is short.

Have you already taken both pensions ?

Thanks..
Just the NRA 60 so far.

heapsy · Post by **heapsy** » 07 Nov 2020, 21:14

Enjoy,, you've earned every minute of your retirement. I intend to go at 60, no argument on that. Lads in the office don't believe me. They'll be wrong. Keep your self active. A daily walk, a swim once or twice a week? Good luck and drop in once in a while and let us know how it's going.

Jpro747 · Post by **Jpro747** » 08 Nov 2020, 09:12

Congrats and all the best!

Post by **baldrick** » 08 Nov 2020, 11:38

Best Wishes for the future! I went after 32 years too and I'm enjoying retirement. Not missing the daily grind one bit!

Post by **stephen500** » 08 Nov 2020, 15:08

heapsy wrote:Enjoy,, you've earned every minute of your retirement. I intend to go at 60, no argument on that. Lads in the office don't believe me. They'll be wrong. Keep your self active. A daily walk, a swim once or twice a week? Good luck and drop in once in a while and let us know how it's going.

Good luck and don't forget the £750 pension advice money, that does not have to be used for pension advice.
No one believes me that I am leaving at 59 years and 10 months. Most seem addicted to work and over time.
Many will, sadly be carried out in a box.
The worse thing ever was the end of the compulsory retirement age, people go on and on, till they are no longer fit for work and meanwhile young people struggle to find work.
I know colleagues at my work taking home £600 a week with both RM pensions, with around £200 pensions (well £120, if they pay 40% tax)
That's still £720 a week, whilst some young people out there earn min wage.
I think a lot of us older generation are selfish.
Time to move out and on.
I am happy with my £12,000 pension and will use some of my lump sum to put that up to £20,000 a year till I get my state pension.

Post by **fly-catchers** » 08 Nov 2020, 19:51

Thanks everyone! I haven't taken my 65 part yet so would be too late to claim the £750 unfortunately! Personally I think that you should be able to get that without having to take the NRA65 unless you were already 65. Supposing the advice you brought with it (which I know nobody would use it for!) advised you not to take the pension early! Not sure whether you have to let RMSPS know you have left to get the supplement added. Or if RM supply them information directly. Have emailed them but will phone nearer to my actual leaving date. Already feel like I am winding down but the knackering feel might take longer to go!

david3595 · Post by **david3595** » 08 Nov 2020, 20:16

Good luck flycatcher and Stephen500. Enjoy retirement. At the age of 55 I’m on young side compared to some of my colleagues who are approaching 70 and in receipt of both RM pensions, State Pension and still doing overtime

but I guess it’s an individual choice when to go.

Post by **tinkerdil** » 09 Nov 2020, 17:14

I have enjoyed reading your journey to retirement Stephen, which you have documented in detail. Good luck to you and Flycatchers in your life after RM.

Post by **stephen500** » 10 Nov 2020, 16:09

tinkerdil wrote:I have enjoyed reading your journey to retirement Stephen, which you have documented in detail. Good luck to you and Flycatchers in your life after RM.

Just a couple of things to document as they hopefully happen.
1) do i get my monthly pension on time (30th)
1a) if they tax me at first, how hard will it be to stop paying tax after I get my P45 (how long will it take to get my P45.)
Btw I spoke to some one yesterday who is still waiting for his NRA 60(RMSPS) after getting his (RMPP) element of NRA60 after turning 60. I advised him to ring RMSPS)
2) Will I get my excess DBCBS within around 12 weeks and what tax rate will I pay?
3) If I overpay tax, how hard is it to reclaim
I think that then will be it!

Post by **fly-catchers** » 10 Nov 2020, 19:23

My e-mail to RMSPS about getting the supplement for Section C pension told me I need to contact RMPP! I would have though as all NRA60 is handled by RMSPS that RMPP were not involved?! Apart from a mention about the supplement amount I would get when I leave RM in a letter prior to getting NRA60 in January 2018 its never been shown on any paperwork or web site since. I do get about 2 years worth which was paid straightaway and is based on the 2 years I got from transferring a previous pension into RM. I assume as that goes up with the pension the rest of the outstanding supplement goes up as well with the RPI increase. But it would be nice to know what its current full value is! Hopefully once I have left it will appear without issue, but we will see!

lordthornber · Post by **lordthornber** » 11 Nov 2020, 08:09

Getting tax back should be a doddle. Corona might interfere with the length of answering a phone call but HMRC are, in my experience very good. In fact the last time I'd to call them, the guy actually admitted he'd very little to do (!) and spent about a minute tailoring my 2 pensions tax codes right down to the nearest £1. Just have all relevant info available nat ins number, any income etc.

TheStrangler · Post by **TheStrangler** » 14 Nov 2020, 15:59

stephen500 wrote:
tinkerdil wrote:I have enjoyed reading your journey to retirement Stephen, which you have documented in detail. Good luck to you and Flycatchers in your life after RM.
Just a couple of things to document as they hopefully happen.
1) do i get my monthly pension on time (30th)
1a) if they tax me at first, how hard will it be to stop paying tax after I get my P45 (how long will it take to get my P45.)
Btw I spoke to some one yesterday who is still waiting for his NRA 60(RMSPS) after getting his (RMPP) element of NRA60 after turning 60. I advised him to ring RMSPS)
2) Will I get my excess DBCBS within around 12 weeks and what tax rate will I pay?
3) If I overpay tax, how hard is it to reclaim
I think that then will be it!

I've been getting my pension paid regularly on the 30th so you shouldn't have a problem with that.
I assume you'll be taxed on it for the remainder of the tax year.
Be interesting to see how soon after leaving you get the £750 payment , appreciate it if you can keep us up to date on that.
Good luck to you (and others) on your retirement, I won't be far behind you!