What does the documentation (your schemes rules) say regarding transfers in?I was under the impression that as I transferred in, my previous contributions to the PRSA would count towards the 2 years. The pension provider says not so with a PRSA, is that the case? At no point was this outlined to me when I did the transfer.
.......they're now saying that a PRSA is not a pension so it doesn't qualify.
As I understand it, It's nothing to do with the rules of the company scheme. It's the law as to your options (and your employers options to recoup their contributions) when you leave an employment. If less than 2 years service, employer can recoup their contributions.
This is the answer. You didn't transfer qualifying service.I think the issue here is that a PRSA is not an occupational pension scheme, regardless of whether or not your employer had contributed to it.
Vesting and the preservation of benefits is covered by the Pensions Act. To become entitled to the ER contributions you would need to have 2 year’s qualifying service in the occupational scheme.
It is correct that any other scheme service that is transferred in counts toward this 2 years however a PRSA is not an occupational scheme and no service records are recorded for PRSAs (similar to the salary & service records for occupational schemes for the calculation of retirement benefits).
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