If you’re living in the European Union (EU) or European Economic Area (EEA) and being paid your pension from the Royal Mail Statutory Pension Plan (RMSPS), you may need to check whether you’ll still be able to receive your pension payments when the Brexit transition period ends on 31 December 2020.
Some UK banks are thinking about closing UK bank accounts for people living in the EU and EEA, as they may not be able to offer banking services in some countries after 31 December 2020.
What you need to do
We’re unable to tell which banks will be affected, so you must check with your bank to find out what they are planning to do. If they are going to close your account, any pension payments we make will be returned to us until we have a new account for you.
If you need to change your bank account, please inform us of your new bank details as quickly as possible. To do this you need to send:
- a completed Bank Mandate Form
- a document containing your name, address and updated bank details
We can accept one of the following documents:
- bank statement
- a deposit slip
- a void cheque
- or other document confirming this information
Any documents you send to us must be dated within the last three months for us to be able to update your details.
You can print off a Bank Mandate Form on this web page or contact us to request a copy.
We must remind you that neither Capita nor the Scheme Manager are able to provide you with banking advice, please contact your bank for further information.
If you choose to change your bank account, make sure you understand any fees you may be charged and new bank account exchange rates.