Royal Mail Pension

Susan-Pringle

I have a pension with Royal mail which has been for the last 12 years. I am due to retire Sept 2014. Royal mail have contacted me with a Provisional estimate of which I can take from 07 June 2012. the estimate is £2080.78 Annual Payment and £13871.88 Lump sum. I have contacted Royal mail ro ask what I would receive if I left it ubtil 2014, but they have said they don't know what that would be, is there any way I could find that out.

Sue

lellow_lorry

Most pension schemes provide an annual statement. They can't factor in rpi/CPI in the future and pay rises and payments. As your only 2 years a away you could get a ball park figure. You need to know your contribution rate eg .1 /60th and use a projected rpi/CPI....but it's not exact science

Royal_Male

The simplest way would be to look at your last 'current value' statement (the pension department send one every August). That is the value without any reduction for early payment so you coyuld just make a rough guess of the amount in 2014 by adding two years' of inflation increases to the pension/lump sum amounts shown. Depending which Section of the scheme you are in, it may be CPI or RPI.