What to do with directors pension?

[Lucret]

Hi,

I setup a pension through my company when I was an IT contractor. I liked the idea of having control over the pension, it is with hibernian. I have now gone full time with a company and wonder what can I do with the pension. I have been told that only my contracting company can make contributions to the pension and not my new employer.

thanks,

T

 

[Guest126]

If you had a director pension in your old employment (when you were the company director) then your new company cannot contribute to that pension - but you should be able to transfer that old pension to your new company's pension plan (if new co has pension plan) and the new company can contribute to that for you.

 

[Lucret]

Thanks CapitalCCC

Can I keep both pensions going?
I'd use the director pension for any earned income from nixers.

 

[Guest126]

You can only put money into that Director Pension if it is money that you have earned from employment by the company to which it relates.

If the nixers are nothing to do with that company, i.e. that company does not pay you salary, then you cannot contribute to that pension...sorry!