ive payed into a company pension for two years and may lose my job can i claim back the money i payed in?

Answer 1

If you have been paying contributions for less than 2 years you will probably be able to get your money back. If you've been in the scheme for 2 years or more than no. Pension scheme rules are subject to the approval of the Inland Revenue (HMRC) and all group schemes require that contributions of 2 years or more duration have to remain in the scheme. However, if the scheme run by your employer is a Group PERSONAL Pension Scheme (perhaps a Stakeholder Pension) then you will not be able to get your money back. It will remain there and you'll not be able to get at it until you are 55 at the earliest. Dig out the paper they gave you when you joined and within the small print you should find the answer (if you can't find them, ask your personnel people for a copy).
A couple of thoughts. If you can possibly manage to leave it there, assuming you have the choice that is, you might have the chance to transfer the benefits to a new employer's scheme in the future and, most important of all, every pound you save towards your retirement (however far off that may seem) will help you to have a better retirement - you will not have any sort of decent retirement if you have to rely on the State Pension, if it exists when your time comes. Best, take advice from an Independent Financial Adviser for all the options.

Answer 2

I am not so sure the other answers are correct.

I payed into a pension fund and then moved country. I opted to get a refund on what was paid. I got my money back, minus an administration fee, no interest and without the company's contribution.

So although I think it is possible, the other answers are right insofar that you would be better off transferring your pension pot into another fund rather than withdrawing the cash.

Answer 3

No I have the same problem, I've paid in £400 with a company pension a few years ago and can't get it til I'm 65! I tried to transfer it over but the pension company I was with weren't helpful and never did it.

Answer 4

You can leave the premiums you have so far paid where they are and allow them to grow with the interest untill you retire, or you can transfer them to your new pension scheme, but there will usually be a charge, ie a reduction in the transfered amount. You wont get any cash. Does anybody know different?

Answer 5

No afraid not but you can transfer it to your new job's company pension

Answer 6

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Answer 7

No but you can transfer it into another pension fund