# Old pension:Construction Industry Federation for 4 years - where is it now??



## celticsteven (19 Jan 2010)

Hi guys,

I paid into a pension with the Construction Industry Federation for 4 years between 1998-2002 I had a accident and had to give up my job as a bricklayer.

Just wondering what has happened to the pension and where does the money go. Can i claim it back or collect it when i'm older. 

If anyone could point me in the right direction i would appreciate that.


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## Ann1 (19 Jan 2010)

*Re: Old pension where is it now??*

I think this is the link you are looking for....give them a ring.


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## Aisling (12 Jun 2010)

Hi Celticsteven

Just wandering through this website and saw this post.  Ann1 is partially correct in directing you towards the CIF but if you were a bricklayer you in fact have been with workers scheme instead which is CWPS 01 497 7663.  I cannot post links as I'm new on the site but if you google CWPS you'll find them and they have an online system that you can view it yourself.  At the time you would have joined the old CFOPS scheme which later transferred to CWPS.  

While you cannot obtain a refund both your contributions and your employer contribution will be held by CWPS (of course the current value is subject to the market performance depending on where it is invested) which you can transfer to a PRSA or your current employer pension scheme (if you have one) or benefit may be taken at retirement age directly from CWPS.  

Due to the service in the and contributions rates payable in 1998-2002 (eg current 2010 employee contribution €19.20 pw) the retirement benefits are not going to be huge so your option will be as follows:
1. Transfer to another employer scheme or PRSA
2. Leave the benefits with CWPS until retirement age which is 60 if no longer working in the construction industry (which you've stated you no longer do)

At retirement age benefits may be taken as follows: 
25% of fund tax free cash with remainder to be used to purchase a pension or taken as tax free cash subject to revenue limits.

One point to bear in mind if you are using the fund to get pension instead of tax free cash CWPS annuity rates are extremely competitive.  Unlike other occupational pension scheme CWPS do not have to offer the open market option at retirement like other schemes do so it is a choice that you have to make as to regarding transferring now or closer to retirement to another scheme or take the benefits from them directly.

Hope that helps as that is the CWPS rules in a nutshell.  Just to clarify I would check to value first as stated before I don't think it will be huge anyway so that should help with any decision to transfer or not.


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