Should payments be refunded if you leave before eligibility period

[DeeKie]

I am trying to tidy up my pension affairs. So I contacted all schemes for details. One scheme I was in for just under 2yesrs. So when I contacted them they said I wasn’t eligible for a pension As you had to be in it for more than 2 years. I’ve asked them for the paperwork but they are being very slow about it. My question is should I have gotten my contribution to the pension back?

 

[RedOnion]

My question is should I have gotten my contribution to the pension back?

You don't automatically get them back, but you should have received a leaving options form.
You should have a very small pension which is your contribution.

 

[DeeKie]

I’m being told that because I did not remain in the scheme for two years I’m not eligible for a pension. I can accept that but what should have happened to any money I paid in, or that the employer paid in for me.

 

[RedOnion]

The employers contribution would have been refunded to them.
But your contribution should still be there if it wasn't refunded to you at the time.

I've got a PRB that's only worth about 1,500 in similar circumstances.

 

[Steven Barrett]

Some life companies automatically refund the value of contributions where a member has less than two years, others don't. If it was run by one of the big corporates like Mercer, the life company won't have any record of you as they just invest the money and Mercer do the admin.

You are entitled to the value of your own contributions though, whether it be a refund less 20% tax or transfer it elsewhere.


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