Can I get a refund of my salary sacrifice for my pension?

I left my employer's pension scheme with less than two years service.The monthly contribution was 8%: 6% from my employer, and 2% from me via salary sacrifice.

Am I entitled to any refund for my 2% contributions - my pension scheme is telling me I will lose these also, as this shows up as an employer contribution when technically it was my contribution.

Any advice gratefully received!

As far as I know, any contributions made can be taken back if the job isn't kept for two years - however it will be subject to income tax and you lose the employer contributions. I do know how the 2% contribution can be considered an employer contribution, maybe it's just a misunderstanding?

Did you make personal contributions or give up 2% of your salary and the employer made all the payments?

As far as I am aware, salary sacrifice is not allowed by the Revenue (you need to check this out, I am not 100% certain on it). If the employer, in effect, contributed 8% of salary, you are not entitled to any of the money back, it all goes back to the employer. They can waive their right to this money but you can't take a refund of it, it has to be transferred to a PRSA, Buy Out Bond, another scheme or stays where it is.

If the 2% is a personal contribution, you can get a refund of the value of your 2%.

Ask to see the proposal form. You will know from whether there are employee contributions or not.

Check out the Salary Sacrifice angle, if they don't play ball you can use that card.

Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)