2 year question

irishguy

Registered User
Messages
164
Can anyone tell me if I am in a pension scheme is it 2 years from when I join the scheme that I get to keep my employers contributions if I leave or is it 2 years from when I join the company? As I didnt join the pension scheme until after my probation period.
 
Hi Irishguy

Assuming your pension plan is an "occupational pension scheme", under the preservation requirements of the Pensions Act, you are entitled to your employer contributions upon leaving service once you have 2 years "qualifying service".

Qualifying service is defined as period of service as a contributory member in the relevant scheme plus the period of pension service of any scheme that you have transferred into the relevant (current) scheme.

The terms of your current pension plan may be more generous than this (check the booklet) but this would be relatively unusual.

If your plan is a PRSA, you will be entitled to your employer contributions irrespective of your lenght of service.
 
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