Rbs Pension advice

Hobo1234 · 19 April 2018 at 7:12PM

Hi

I'm looking for some advice, my pension knowledge is lacking and we're currently assessing our company pensions we have. I have a RBS group pension and my question is does your pension pay out until death or until the pot runs out? Sorry if this is a ridiculous question but I honestly have no clue and have tried to check paperwork online etc to find out with no luck. Thanks for any help you can offer me.

Technics1210 · 19 April 2018 at 7:34PM

It depends on what type of annuity you purchase, and that will depend on your own personal circumstances.

What type of annuity options are you looking at?

The majority payout until death (or until the end of the guarantee period) but draw down arrangements can payout until the pot runs out. Both option would pay very different returns

xylophone · 19 April 2018 at 8:17PM

https://rbs.tbs.aon.com/RBS/media/default/PDFs/Current%20Pension%20Plan/UK-Booklet-(also-known-as-Group-Pension-Fund-booklet).pdf

Is the above your scheme?

Hobo1234 · 19 April 2018 at 8:35PM

Yeah I'm sure that's the scheme. It's a final salary pension.

xylophone · 19 April 2018 at 9:14PM

Yeah I'm sure that's the scheme.

Then reading the above will give you your answers.

Dox · 19 April 2018 at 10:33PM

Hobo1234 wrote: »

Yeah I'm sure that's the scheme. It's a final salary pension.

Pays until you die.

Hobo1234 · 20 April 2018 at 8:21AM

Thanks for your help. I was just getting a bit concerned as I had been retired through ill health and obviously have been receiving this before being retirement age, Was slightly concerned that by the time I'm pension age Id have nothing.

Rbs Pension advice

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