Welcome to the Royal Mail Defined Contribution Plan (RMDCP) Video Hub.
Here you’ll find our complete collection of videos including information on:
- Choosing the Royal Mail Defined Contribution Plan (RMDCB)
- The benefits of saving with the Royal Mail Defined Contribution Plan (RMDCB)
- What happens to your money when it’s invested?
- Your benefit statement
- How you can take your money
We’ve all got lots to do, Always buzzing around. But do you ever think about your life when maybe things will be a little easier…when you’re retired?
We’re living longer, so many of us could be looking forward to 30 years or more in retirement
To help you get ready to make the most of those years, you can be part of a savings plan where for every £3 you save, someone else puts in £7. It’s called the Royal Mail Defined Contribution Plan. The RMDCP.
So, for every £3 you save, Royal Mail and the Government add another £7, so you get £10 in your Plan. And when you come to take your money out – you can take a quarter of it tax-free.
So how does it work?
After you’ve been at Royal Mail for a year, we’ll put you into Tier 3 – this means you save 6% of your pensionable pay into the Plan, and Royal Mail add another 10%. And because the money you save is taken from your pay before tax is worked out, you end up paying less tax too - it’s how the government encourages us to save for the future. So saving this way can be much more affordable than you might think! However, if you want to save less than 6%, you can choose to save 5% or 4% … in which case Royal Mail will also add a little less too.
If you want to know more about how the Pension Plan could help you get ready to retire? There are some really helpful tools on the Zurich website they’ll show you how much you might get when you retire and how saving might effect your take-home pay. Simply go to the Zurich website and click on ‘Retirement tools’.
It’s much easier to save for your future with help from the RMDCP.