National Westminster Bank Staff Pension

Mandiste

I worked at Natwest from 1976 - 1983 (7 years service).
RBS replied to my enquiry about my pension saying that in order to qualify for a preserved pension, employees were required to be age 26 or over (i was 23) and have completed 5 years qualifying service, which I had. Therefore I did not meet the criteria.

It is a very basic letter from the Group Human Resources dept with no phone numbers or anything. I wondered if anyone else has heard of this as it doesnt seem right to me. :mad:

dunstonh

I answered this on your previous post. The answer hasnt changed.

Stargazer57

dunstonh wrote: »

I answered this on your previous post. The answer hasnt changed.

...but is unfortunately wrong.

You suggested then that it was likely that Nat West had a qualifying period (of 5 years service or till age 26 if later) before employees were allowed to join the pension scheme and that Mandiste should check his records to see if he was a member of the scheme.

The correct explanation is that until 1986 pension schemes didn't have to provide any benefits (above a refund of any contributions) to those who left before age 26.

Mandiste would have been a member but would have no residual pension entitlement.