Leaving job pension question

Discussion in 'Public sector pensions' started by Cmcc85, Jun 2, 2011.

  1. Cmcc85

    Cmcc85 Guest

    Hope this hasn't been asked too many times before...
    Im in a public service job less than two years, on my payslip im paying into two pensions and spouses and children, im considering leaving before the two year mark, my question is can i claim this back when i leave???

    Im hesitant to ask my HR/Finance department as i dont want them to know im considering leaving.

    Thanks in advance
     
  2. ondeball

    ondeball Registered User

    Posts:
    42
    You can claim it back but you'll take a big hit.

    The best thing you can do is transfer it to whatever fund you new company recommend for you and you won't lose a penny.

    It's happened me twice in the last three years or so.
     
  3. Protocol

    Protocol Frequent Poster

    Posts:
    2,001
    Note that there is no public service pension fund, so you can't transfer to a new private sector employer pension.
     
  4. Evening

    Evening Frequent Poster

    Posts:
    42
    If you leave your public sector job with less than two years public service, you will be refunded your superannuation contibutions less 20% tax liability. If you leave after having two years served, your superannuation benefits will be preserved until you reach retirement age.
     
  5. kennyb3

    kennyb3 Frequent Poster

    Posts:
    251
    How do you go about this?

    I only ask as my OH is a nurse, worked in Beaumont for a year then moved to a semi private clinic.

    Wondering if she is due any contributions back (i know she was paying into a pension) or if not is the money just left in a fund somewhere?

     
  6. Dave Vanian

    Dave Vanian Frequent Poster

    Posts:
    604
    Who was her employer in the semi-private clinic? If it was still ultimately the HSE, then she hasn't actually moved employer; just location of work.
     
  7. kennyb3

    kennyb3 Frequent Poster

    Posts:
    251
    It's not the HSE anyway. Its the Bons Secour
     
  8. Cmcc85

    Cmcc85 Guest

    Thanks for the reply's!!