Comments | the_laydee: (без темы)

the_laydee

(Untitled)

Dec 07, 2006 16:39

Now, as many of you know, I was a member of the pension scheme at my last work, and upon leaving was told I could close the pension down and receive back the money I had paid in. Hurrah! I thought. I was relying on that money to pay for stuff I need. Now, 4 months later and I still hadn't heard anything from them despite my chasing. I called ( Read more... )

Comments 8

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the_laydee December 7 2006, 17:15:10 UTC

I know, but they didn't make it clear. I was told "you can cash it in if you leave in th next 18 months" and not "you can cash it in if you leave in the next 3 months", there's a huge difference, and it bothers me that I was just told SUCH wrong information.

It won't accrue interest, it'll keep up with inflation, which is different, it'll still be worth precisely the same in 40 years when I retire.

I know you're right, but it doesn't help me now, when I need the money. I would always start a pension with whatever company I work for when i leave uni as i don't want to rely on a state pension, and by the time we retire, there probably won't be one anyway.

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vixstar December 7 2006, 17:36:59 UTC

Don't get a pension. Put it in a savings account with a 30-day notice. That way, you can't splurge the money, and you'll get a much better rate of interest. I currently get 5%.

Oh, and ISA! :)

Thread 5

bwoy December 7 2006, 16:59:22 UTC

With my work they would let me cash in my contributions if I left within 18 months of the first payment made, but I would not be able to reclaim the employer's contributions.

This was going to be useful for me a while ago but then I blinked and I'd be there for 2 years. Eek!! Well, 3 years by the time I left.

The other thing is that when you get another job you may be able to transfer the funds to a new pension scheme. I don't know if all employers offer this. But like Katykitten said you'll benefit from it when yer old.

the_laydee December 7 2006, 17:08:26 UTC

I know I'll benefit from it when I'm old, but I need the money now so I can stay here. I can't cash in 'cos I was there more than 3 months...

I can transfer to another pension scheme, but again that doesn't help me NOW. And now is when I need money to eat.

bwoy December 9 2006, 09:45:51 UTC

Good point. I know how that one goes.

vixstar December 7 2006, 17:37:32 UTC

Stupid, stupid, awful, horrible people.

Sorry to hear it babe.

Is there anything I can do to help? I mean it. Give me a shout. xx

the_laydee December 7 2006, 17:42:52 UTC

Can we go down to the Beercart asap and see if I can get a job there starting as soon as possible? If you could, it'd be a huge help...