Pension question

Mrs(no)money

I was in the building society this morning and was eavesdropping on a customers conversation with the cashier at the next desk! She was talking about going back to work after a long break and was saying among other things, that she might 'cash her pension in' and 'its better in my pocket than theirs'. This led me to thinking:

I am currently employed part time 15 hours a week and have a company pension which i have been paying into for about three years. I dont earn massive amounts of money so my contributions arent massive either, but obviously my employer pays in too. However, i am thinking of resigning (long story!) and not sure what would happen to my pension.
1) Would i have to transfer my pension to another company pension?
2) If so, what happens if I have no job to go to immediately?
3) Could the funds be transferred into a 'stakeholder' pension
4) Can i actually 'cash in' whats available in the fund, or is it tied up til i retire?

Sorry so many questions, but i have lots to think about before making a decision whether to resign and whilst this is only a small part of the 'package' i dont want to just throw it away as I have worked hard for it!!

Thanks in advance

dunstonh

1) Would i have to transfer my pension to another company pension?

Not if you dont want to.

2) If so, what happens if I have no job to go to immediately?

n/a given above.

3) Could the funds be transferred into a 'stakeholder' pension

They could but whether they should be is a different matter.

4) Can i actually 'cash in' whats available in the fund, or is it tied up til i retire?

The clue is in the name. Pension. Its there until age 55 at the earliest (age 50 until 2010).

Mrs(no)money

Thanks dunstonh, i guess i will have to wait for a few more years - about 20 odd actually:D

If only the question of resigning was as easy to make a decision about!