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Getting out after 1 yr
comicmankev
Posts: 1,597 Forumite
Sorry if this has been asked before, didn't quite know what to search for!
I have been paying in to my local government work pension for just under a year, and have resigned. Does the money paid in so far get lost? or can I get it out at all?
I have been paying in to my local government work pension for just under a year, and have resigned. Does the money paid in so far get lost? or can I get it out at all?
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Comments
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You get the choice to transfer it to another scheme (and keep employer added value) or get your own contributions back minus tax and minus a contribution to put you back into the state second pension for that period.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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You cannot get a refund of pension contributions from the Local Government Pension Scheme after three months, so this option is not available to you.
Your pension benefits will be preserved in the scheme and you will be entitled to payment at age 65, or you could transfer the benefits out to another pension scheme.0
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