agencydude
Registered User
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- 68
Hi
I've had a number of pensions over the years. Most are defined contribution schemes. One was a standard PRSA.
Over the years there would be times when I'd be out of work for a period of time or I'd be changing jobs.
I wouldn't be able to pay into my pension so I'd send a letter to the pension company saying I wish to stop making payments into my pension and state I wish to recommence making monthly payments after a period of time.
I'd then get a letter back saying that the pension is 'paid up' as requested.
But I don't understand why they do this as that was not what I requested.
After a few months I'd go back to the pension company and say I want to restart making payments into the pension scheme.
They'd say you can't do this as its 'paid up'
So can anyone explain why pension companies do this?
Is there any pesnions out there where you can stop and start making monthly payments??
I've had a number of pensions over the years. Most are defined contribution schemes. One was a standard PRSA.
Over the years there would be times when I'd be out of work for a period of time or I'd be changing jobs.
I wouldn't be able to pay into my pension so I'd send a letter to the pension company saying I wish to stop making payments into my pension and state I wish to recommence making monthly payments after a period of time.
I'd then get a letter back saying that the pension is 'paid up' as requested.
But I don't understand why they do this as that was not what I requested.
After a few months I'd go back to the pension company and say I want to restart making payments into the pension scheme.
They'd say you can't do this as its 'paid up'
So can anyone explain why pension companies do this?
Is there any pesnions out there where you can stop and start making monthly payments??