Occupational Pension with Old Employer

[ruibear]

I had an occ pension with my work from Apr 1992 until I resigned in July 1998.

I left, travelled, came back and have since been employed elsewhere but never got back to the company to see where my contributions stood.

I have my membership number etc and have contacted the person in charge of the fund at the company but yet to receive a return call. They obviously would not have my current address.

I want to know do I 'qualify' for a refund of my contributions less tax or are the only options left
a) transfer to other pension b) leave it there c) get a buy-out bond?

Thanks

 

[ClubMan]

I want to know do I 'qualify' for a refund of my contributions less tax

Don't think so. The rules nowadays are that you can only do this if you have less than two years membership of an occupational fund. I don't know what rules may have applied during the timeframe mentioned but I suspect that a refund of contributions is not an option.

or are the only options left
a) transfer to other pension b) leave it there c) get a buy-out bond?

I believe that these are the only options. And (a) may only be an option if/when you join another occupational fund (e.g. I don't think that you can transfer this occupational fund into a PRSA or personal pension plan).

 

[LDFerguson]

During the time period you mention, the refund option was for those with less than five years' pensionable service. So the options you mention are pretty much it. If the value of your fund is less than €10,000 you could transfer to a PRSA but you'd need to establish if this is advisable.

 

[ruibear]

Thanks very much for the replies, I hope to talk to the pensions person in my old company tomorrow.

I had an idea of the '5yr rule' that applied back then but wasn't entirely sure.

I'll let the board know the outcome when I find out.

Thanks again.