Hi all,

A little white back i finished my contract at the school i was working at (worked as Technician) & Ive just realized that i should be entitled to claim back the money that got paid into the governments pension scheme. As the guidelines state if you have only been on the pension scheme with the job for less than 2 years you are entitled to get a refund of it all but the only thing that is added to it is that they will tax you the money if you get it refunded which is roughly 20% and if you have been on the scheme over 2 years you are not entitled to a refund. Luckily my contract where i worked was only 12 months and altogether i was only on the scheme for 11 months (because of school term & dates and the new school term last year started in sept i did not start the job until October last year) so hopefully i should get a refund of the scheme and i have got all my pay slips from working there as proof of paying into the pension. Before anyone asks its unlikely that i am going to go back into a job sector again where it will be that its part of the UK Government as i am now in a very stable job and because its not for the Government i wont be paying anymore pension. all i am asking is that how straight forward & easy is the refund process if it does go ahead?

Thanks all - Liam

Yeah but as i said its unlikely that i will be going into another job again where i will be contributing towards my pension & also who knows what will happen in 50 ish years when i retire you never know all that money might be all gone by then knowing the government and i whats the point in the government keeping money that iv contributed to and thats going to be sitting there for years and years, also who knows what else might happen to it in years to come! (the amount that iv contributed to already is nothing really compared to what other people have contributed to)

Liam

Quote from: Liam

Yeah but as i said its unlikely that i will be going into another job again where i will be contributing towards my pension & also who knows what will happen in 50 ish years when i retire you never know all that money might be all gone by then knowing the government and i whats the point in the government keeping money that iv contributed to and thats going to be sitting there for years and years, also who knows what else might happen to it in years to come! (the amount that iv contributed to already is nothing really compared to what other people have contributed to)

Liam

Its your loss mate. Shouldnt be hard to get a refund providing youre entitled, what you may find is that you will need to pay an administration fee for it, as theyve betted on you having it in their accounts for about 50 years.

Haha yeah i bet they will try and do that - the only thing that iv noticed when i read it up on the internet about my rights of what to do with it is that if i do chose to have a refund then all they are supposed to do is tax the amount that i will be refunded apparently.

Liam

Nope. If youve got a pension you end up with that pension normally.

Ive 2 pensions myself after leaving B&Q. To have it paid out on termination of employment... thats a new one on me.

Quote from: M3ta7h3ad

Nope. If youve got a pension you end up with that pension normally.

Ive 2 pensions myself after leaving B&Q. To have it paid out on termination of employment... thats a new one on me.

Nope i didnt terminate the employment my temporary 12 month contract had finished, f**k sake theres sooo much information about all this on the net the most common statement i have found out is that theres a chance that i will get a letter through the post giving me a list of options of what to do about the pension but knowing this situation about my P45 its probs been delayed.

Liam

Yeah you get to decide if you want to transfer it to another pension, keep it but dont contribute to it, add voluntary contributions to it, dont think you get to claim it back. :\

At least those were my choices with mine.