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Friends Provident Pension Help
Paulaj87
Posts: 2 Newbie
Hi
Looking for some advice please, my boyfriend was employed for 7months and paid in monthly to his pension with friends provident and his employer matched his contribution.
He has recently left this employer to work elsewhere, he called up the pension company to find out when he would receive his cheque for pension, as in both our other employers we had only paid in a small amount and were given it back with another provider.
Friend provident were extremely rude and informed him his balance was just over £400. He could not have this back his options were to freeze the pension or transfer to new provider.
Do we have any comeback to get the funds back? We cannot see anything in terms and conditions that we cannot get back.
Is there a minimum/ maximum limit where u cannot get the funds back.
Many thanks
Looking for some advice please, my boyfriend was employed for 7months and paid in monthly to his pension with friends provident and his employer matched his contribution.
He has recently left this employer to work elsewhere, he called up the pension company to find out when he would receive his cheque for pension, as in both our other employers we had only paid in a small amount and were given it back with another provider.
Friend provident were extremely rude and informed him his balance was just over £400. He could not have this back his options were to freeze the pension or transfer to new provider.
Do we have any comeback to get the funds back? We cannot see anything in terms and conditions that we cannot get back.
Is there a minimum/ maximum limit where u cannot get the funds back.
Many thanks
0
Comments
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He has recently left this employer to work elsewhere,
How long has he been there?Do we have any comeback to get the funds back? We cannot see anything in terms and conditions that we cannot get back.
Is there anything in the T&C that says he can get it back?Is there a minimum/ maximum limit where u cannot get the funds back.
Many thanks
Less than 2yrs service may offer a refund but it's not obligatory.
What would concern me more is why you keep taking the refund option as opposed to accepting a transfer, especially where there was an employer's contribution?
In taking a refund all you get is your own contribution back minus tax and NI. You lose all of the employer's contribution.
What do you plan to do for retirement provision?0
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