Leaving Your Plan

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What happens to your benefits

If you opt out of the RMPP or leave your employer, you and your employer will stop contributing to the RMPP.

At this point, as long as you have completed three months as an active member of the RMPP, you’ll need to decide what to do with the benefits you’ve built up. If you’re leaving to take your benefits immediately, look at the section on ‘Planning Your Future’. Otherwise, read on.

You can choose to keep your benefits in the RMPP. If you do this, your Cash Balance benefits will be subject to the same rates of discretionary increase as it would if you were still an employee member.

Alternatively, you can transfer your benefits to another pension arrangement. 

If you cease to be an employee member, the Pensions Service Centre will write to you to confirm the value of your fund.  So, please get in touch with them if you change your address.

A note on opting out of the RMPP

If you’re staying with your employer but you want to opt out of the RMPP, you’ll need to let HR or the payroll department know.  By doing so, you’ll stop paying contributions and won’t build up any more benefits. You must give two months’ notice if you’re paid monthly, and two weeks’ notice if you’re paid weekly. Beware: if you opt out, you can’t join again later. You may be automatically joined to the Royal Mail Defined Contribution Plan at a later date in line with Government ‘automatic enrollment rules.