Royal Mail Pension Plan

Royal Mail Pension Plan (RMPP) is a UK-based private sector pension fund responsible for all pension benefits earned by its members. The private pension plan has two plan sponsors; Post Office Limited (POL) and Royal Mail, the letters, and parcels business. The Royal Mail Statutory Pension Scheme (RMSPS) was established by the UK Government in April 2012 and has responsibility for paying the benefits that members of the RMPP had previously built up to the end of March 2012. The RMPP remains responsible for all pension benefits earned by members on and after April 2012. Following the transfer to the UK Government of members’ benefits earned up to March 2012 (together with the bulk of the assets that supported those benefits), the number of members in the pension plan and the value of its assets reduced significantly. The Secretary of State is ultimately responsible for the RMSPS and it has its management team, separate from the management team of the RMPP. Both the RMPP and RMSPS plans are now closed to new members.Read more ⏷