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Pension Refund Query

Nilz Feb 25, 2014

  1. Nilz

    Nilz Defo worth the wait :) Team Ibis TFSI Owners Group quattro Audi A4 S-line owners group saloon Manual

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    Hi Guys

    My Wife started work for a company in September last year, but then left at the start of this month, as it didnt work out. She has made 2 monthly pension payments, which were quite hefty, so is she entitled to a refund at all, considering it was such a short amount of time??

    She has rang the pension provider and they flat refused and said that no refunds can be given, a transfer can be done but as she is not part of her new scheme just yet are we able to get that money back at all??

    Any advise would be much appreciated.

    Thanks
    Nilz
     
  2. dieselguy

    dieselguy Active Member

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    My understanding is that normally you can get a refund, but the amount is greatly reduced. So its better to transfer it to the new scheme. This can be done at any time I thought. Worst case scenario, its still YOUR money, so you can keep the money and have a very small pension pot upon retirement.
     
  3. Nilz

    Nilz Defo worth the wait :) Team Ibis TFSI Owners Group quattro Audi A4 S-line owners group saloon Manual

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    Cheers, the Wife has spoken to them again and said the best they can do is transfer the money to a new scheme, so looks like she will move it to her new place of work.
     
    dieselguy likes this.
  4. JingleJangle

    JingleJangle Active Member

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    I had the same issue mate when i left legal and general, 1 person told me that if its within the first 2 years you can withdraw any funds which "you" have contributed not the company.

    But when i called them to discuss this they said the best they can do is either keep the funds in that pension or send me a pack so i can transfer the full lot including their contribution to my new one
     
  5. Nilz

    Nilz Defo worth the wait :) Team Ibis TFSI Owners Group quattro Audi A4 S-line owners group saloon Manual

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    Its annoying but hey ho!!
     

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