As far as I know I meet the criteria (those two items anyway), just wondering if there's a time limit on claiming a refund or if there's anything else I should consider.You can seek a refund but only if you are leaving the service of that company and you have less than two years membership.
Another point to note is that you receive a refund of the value of your contributions, less 20% tax. This figure may or may not be the same as the amount you have paid in. In addition, you are presumably aware that your employer will get a refund of the value of their contributions.
While you may have a particular reason for doing this, the loss of the employer contributions often makes this a poor long-term financial planning decision. That said, it may be the case that you'll lose the employer contributions regardless. I know nothing about your circumstances or motivations.
Many, many years ago I left a job for another and instead of taking a refund, I was able to transfer the pension rights to my new employer. I t wasn't much but it is amazing how small amounts will mount up over a long period thanks to the cumulative interest.
Unless you need the cash now, I would suggest that keeping your pension contributions in a pension scheme, either the original or transferring to another, is by far the best investment you can make .
Thanks lads, I'd actually put a query into the pension administrator here before posting it here... they've come back in the meantime to say that since I got marginal relief on my contributions going in, the refund will also be taxed at 40%. I haven't argued the point with them yet but is it possible that Revenue rules may contradict the statements on their own website? https://www.revenue.ie/en/employing...-as-pay/refunds-of-pension-contributions.aspx
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