I'm trying to figure what my options and rights are here...
I worked for a company for more than two years (2 years 2 months).
I signed up for the company pension with 1:1 matching contributions 6 months in (so less than two years with active pension).
Now pension company has presented my options - but they're only quoting the value as being my contributions and not including my employer contributions.
Asking about deferring benefit they say "The deferred benefit option would mean that the value of your employee paid contributions would remain invested."
"The employer paid contributions would be refunded to your employer as you have less than two years service as a member of the pension scheme."
My understanding was that, in order to retain employer contributions, I need to have been with the employer for more than two years rather than needing to have been a member of the pension scheme for more than two years. Is this correct?
I worked for a company for more than two years (2 years 2 months).
I signed up for the company pension with 1:1 matching contributions 6 months in (so less than two years with active pension).
Now pension company has presented my options - but they're only quoting the value as being my contributions and not including my employer contributions.
Asking about deferring benefit they say "The deferred benefit option would mean that the value of your employee paid contributions would remain invested."
"The employer paid contributions would be refunded to your employer as you have less than two years service as a member of the pension scheme."
My understanding was that, in order to retain employer contributions, I need to have been with the employer for more than two years rather than needing to have been a member of the pension scheme for more than two years. Is this correct?