Date 29th September 2023
Royal Mail Property & Facilities Solutions Limited (PFSL) & CWU National Joint Communication – Your Pension Contact Details
Over the past number of weeks, both departments have received a steady but constant number of enquiries from Branches, Representatives, and members alike in terms of the current Pension contact details, which seemingly have been as a result of the Royal Mail Property & Facilities Solutions Limited (PFSL) & CWU National Joint Statement Covering Pay and Associated Issues – 2022/23 & 2023/24, which secured an increase in pension contributions to both the L&G (Legal & General) and NEST schemes.
To confirm, the Agreement on Pay and Associated Issues for members in RMPFSL resulted in an increase in pension contributions, moving the NEST scheme contribution from 3% to 4% and the L&G to a minimum 6% contribution for all. The agreement also included an extension and improvement in death in service provision.
This was raised with RMPFSL and it was agreed that a Joint Communication should be issued outlining the Pension schemes contact details to assist all employees in this regard.
Accordingly, please find attached the Royal Mail Property & Facilities Solutions Limited (PFSL) & CWU National Joint Communication – Your Pension Contact Details. In addition to confirming the direct Pension scheme contract details, the Joint Communication also includes the different contribution rates for both the L&G and NEST schemes, how members can increase contribution levels in the L&G scheme, and details on the Lump Sum Death in Service Benefit.
It is hoped that the attached Joint Communication is of direct use to members in RMPFSL and whilst the details set out is not pension advice, members are reminded that there are differences between the two schemes and their contribution levels, and therefore the benefits that individuals will receive at the point of retirement or accessing the schemes.
Any enquiries on this LTB should be sent to Nickie Jones email@example.com and Kerry Hay firstname.lastname@example.org
Mark Baulch – Assistant Secretary
Carl Maden – Assistant Secretary