Losing my employers contributions upon leaving

B

buckfast

Registered User
Messages
47
Under what circumstances (if at all) would I lose my employers contribution to my pension if I were to leave the company? I contribute 10% of salary and my employer matches this.
 
As far as I know it depends on the rules of the pension scheme.

Two years is a common time period.

After two years the employers contributions "vest" in the employee, if you leave before that you loose them.
 
Once you have completed two years membership you automatically become entitled (vested) to a paid up benefit based on all contributions. If you leave before two years then it is up to the scheme rules.
 
cremeegg said:
As far as I know it depends on the rules of the pension scheme.

Two years is a common time period.

After two years the employers contributions "vest" in the employee, if you leave before that you loose them.
Click to expand...

That's laid down in legislation. The trustees can waive the 2 year vesting period if they wish but it is entirely down to their discretion.


Steven
www.bluewaterfp.ie
 
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