benefits taken away by company

[creme egg]

Hi all,
Very recently, we were all advised that all of our benefits would be taken away from us from that day onwards. (no warning)
Meaning that the company would not be contributing any money towards our benefits. We get (or should that be used to!) a lot of benefits, the main one I am concerned about is, the pension.
The company used to make a contribution to our pension fund, without the employee having to make any contribution.
They have been paying into my pension fund for about a year now. (am with the company for a year and a half, made perm after 6 months, and that is when benefits kicked in)

My main question is, what are my rights with regard to the pension fund. Under these circumstances can I take my pension fund with me should I decide to leave in the next few months.

I know that generally you need to be with a company for two years to be able to take the pension with you. I have made no contributions to this fund myself.

They also let about a quarter of the staff go. So needless to say I am strongly thinking of looking for a new job myself, before this ship sinks any further.

Thanks Creme egg

 

[shipibo]

Think you are out of luck, but check with Actuary in charge of scheme. 2 years generally is minimum.

 

[Brendan Burgess]

I have moved this to the pensions forum which is where it is most likely to get a good answer.

Brendan

 

[LDFerguson]

If the scheme is an Occupational Pension Scheme, two years is the minimum unless the trustees see fit to reduce this period.

If the scheme is a collection of PRSAs, the money is yours from the first day.