Pension

[niallkelly14]

hi

i have been working with my employer for 18 months and they have maid employer contribs to a pension policy on my behalf - i have made no employee contribs. i have heard that if you leave a company before 2 years you lose the benefit of any such contribs - is this true as i am changing jobs next month and would like to know if i can keep these pension contribs

 

[ClubMan]

Pension

Employer contributions (or more correctly the benefits attributable to these) only vest after two years. This means that unless you specific occupational scheme has a shorter vesting period (check the scheme rules) then you lose these if you are not a member of the scheme for at least two years. Note that you could work for an employer for two years but be a member of the scheme for less than that time. (On the other hand you could also transfer in a previous occupational fund and thereby transfer in vesting time too!).