Have you transferred funds out of the Royal Mail Pension Scheme?

Depending on when you started work, you were put into one of three pensions. The first one started in 1987, the second up until 31 March 2018, and the final one from 1 April 2018. The earlier pensions that had been issued to workers at Royal Mail may be a defined benefit scheme that is highly valuable considering the benefits they offer. One of these is a guaranteed income during retirement which is directly linked with inflation and is awarded right up until death.

These types of pensions are seen as being highly valuable and have been targeted by unscrupulous financial advisors and marketing companies hoping to persuade them to transfer to a personal pension in order to earn a large commission. In some very rare instances, it may be suitable to transfer the Royal Mail Scheme to another type of pension, however, it is important to be aware of the risks that come with this. The only people who benefit from a pension transfer like this are the marketing companies and scammers who make a tidy profit, whilst the worker could be left in financial ruin.

Lots of Royal Mail workers were not aware that the pension they had was so attractive to financial advisors and so they believed the negligent advice they were given. This is something we regularly come across with our clients. Don’t worry though as we can help.

Simply call us today and speak with one of our experts. They will be able to advise you on how best to seek the compensation that you are entitled to. This is a free service and there is no obligation to proceed with us. If you do, know that our fees are reasonable in comparison to other solicitors and that they only need paying once you have received all the financial compensation that you are entitled to.

Call us now for a phone or video consultation with one of our legal experts on 0800 041 8358 to find out if you are entitled to compensation, you may even be entitled to additional compensation if you have successfully claimed in the past.

News & Updates about Royal Mail Pension