# CWPS (construction workers pension scheme)



## buddysmiley (29 Jul 2010)

Hi Every one,



I am just wondering does any body have any information regarding a penison scheme I took with CWPS (construction workers pension scheme) i have recently left the construction industry and my total balance was around 3,000 euro and I m just wondering is their any way to get this amount refunded.

i found this information on there site but Im just wondering is their any other way to get back these small amount.



"
Q. I’m no longer contributing to the scheme can I get a refund of my pension contributions?


A. No. A refund of contributions is not available to you under the rules of the scheme. Your retirement account can only be used to provide benefits on retirement or earlier death. If you are contributing to another pension scheme you can ask for the value of your retirement account to be transferred to your other pension scheme"


idea's are welcome thanks guys


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## PaddyW (30 Jul 2010)

Do you have another pension scheme which you can transfer this into?


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## buddysmiley (30 Jul 2010)

Hey Paddy, how are you

No other pension scheme, going back to college so this would be a handy amount to get back but i am guessy there is no way?


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## PaddyW (30 Jul 2010)

If you're in the scheme less than two years, I believe you can get your contributions back. But if you are in it more than two, then I'm afraid you won't be getting it back until retirement


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## Homer (31 Jul 2010)

PaddyW said:


> If you're in the scheme less than two years, I believe you can get your contributions back. But if you are in it more than two, then I'm afraid you won't be getting it back until retirement


 
The 2 year limit is an over-riding provision under the Pensions Act.  Most scheme rules reflect the provisions of the Act, but it's possible that the rules of the CWPS do not allow any refunds, regardless of service.  You would need to check this with the administrator.


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## buddysmiley (31 Jul 2010)

thanks every one


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## papervalue (31 Jul 2010)

I would recommend you would ring them directly to get a difinite answer.

Quote your member/pension number. I have found them very helpfull over phone.

At least when you ring up, they bring up your file and give you correct answer and advise what you can do.


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## Aisling (1 Aug 2010)

Hi Buddysmiley,

I'm afriad that you cannot obtain a refund of contributions regardless of service with CWPS. The rules of the scheme have been set with the Pensions Board to reflect this.  

Having previously worked with CWPS I can definately advise you that the only options available are:
Leave it there (until retirement or you are ready to transfer) or 
Transfer to another employer pension scheme, PRSA or Personal Retirement Bond.


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