Company pension - halting
#1
Scooby Regular
Thread Starter
Join Date: Apr 2002
Location: Birmingham
Posts: 9,196
Likes: 0
Received 0 Likes
on
0 Posts
Company pension - halting
I pay a fair bit into a pension even though I am only 22. I currently could really do with the monthly money which I pay into it. If i stop it, what happens? Do I (can I) get back my contributions, or does it just sit until I am 65.
Can I go back on at a later date - or do I have to sort out my own?
Just trying to get some info before I see the Company Secretary tomorrow!
Andy
Can I go back on at a later date - or do I have to sort out my own?
Just trying to get some info before I see the Company Secretary tomorrow!
Andy
#2
you can't touch it until you are 50 - then you can take 25% tax free lump sum and you get the rest as income (which will probably be the equivalent of 3p a week if you stop paying now)
you should be able to rejoin at a later date, but it would depend on comapny rules
you should be able to rejoin at a later date, but it would depend on comapny rules
#3
Scooby Regular
Join Date: Sep 2004
Location: N. London/Herts
Posts: 331
Likes: 0
Received 0 Likes
on
0 Posts
That's not necessarily true.
In most cases, if you have been paying into the scheme for less than two years, you will just get your contributions back.
That has certainly been the situation in my experience.
In most cases, if you have been paying into the scheme for less than two years, you will just get your contributions back.
That has certainly been the situation in my experience.
#6
Scooby Regular
Thread Starter
Join Date: Apr 2002
Location: Birmingham
Posts: 9,196
Likes: 0
Received 0 Likes
on
0 Posts
Outgoings are higher than incomings due to an error on my part a few months ago, so I really could do with it. Anyway I wont even be with this company in a few years!
#7
Scooby Regular
iTrader: (2)
Originally Posted by SiDHEaD
Outgoings are higher than incomings due to an error on my part a few months ago, so I really could do with it. Anyway I wont even be with this company in a few years!
Debt management?
Alcazar
Trending Topics
#8
Scooby Regular
Join Date: Jul 2004
Location: Shall we tell em....who we are???
Posts: 459
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Pedro_79
That's not necessarily true.
In most cases, if you have been paying into the scheme for less than two years, you will just get your contributions back.
That has certainly been the situation in my experience.
In most cases, if you have been paying into the scheme for less than two years, you will just get your contributions back.
That has certainly been the situation in my experience.
You need some proper advice on your entire finances.
Log on to www.unbiased.co.uk and find an adviser close to you, and go and see him/her ASAP.
Thread
Thread Starter
Forum
Replies
Last Post