Resigning tomorrow: pension confusion

dilemma10

Hi all,
Tomorrow I will be resigning as I have a new job. I am relieved to say the least.
However, I am slightly confused as to what I do with my pensions. I worked for a small organisation and their financial matters are a state of chaos. When I joined I was entitled to 15% pension contributions of my £28,000 per annum salary. I also contributed a minimal amount of £20 per month. It was my 'duty' to set up this pension with Standard Life but one thing led to another and the details were not finalised - so my pension contributions are in limbo, and still are to this day.
Am I entitled to ask for these contributions (at least my own) sent to me personally as part of my final package or what?
Eeek!
Thank you.

LittleVoice

So you have no pension set up at all - at least that's what "not finalised" sounds like.

What has been happening to the £20/month you have contributed?
Has it been deducted from your gross pay before further processing for tax and NI?

dilemma10

LittleVoice wrote: »

So you have no pension set up at all - at least that's what "not finalised" sounds like.

What has been happening to the £20/month you have contributed?
Has it been deducted from your gross pay before further processing for tax and NI?

I believe so, it is all rather strange. I am not sure where the blame lies either, because their finances should have worked out for a long time now that their pension contributions were not actually going anywhere.

What is the best thing for me to do?

If some respects I would rather them pay me the difference to be sent to my own choice of pension pot but I doubt that can happen?

I certainly do need my own contributions back - but they only amount to about £500?

agrinnall

This seems like a technical pension question that needs to be answered by somebody who really understands the implications. I would suggest you terminate this thread and post on the Pensions board instead, where you are more likely to find experts.

cbrown372

dilemma10 wrote: »

Hi all,
Tomorrow I will be resigning as I have a new job. I am relieved to say the least.
However, I am slightly confused as to what I do with my pensions. I worked for a small organisation and their financial matters are a state of chaos. When I joined I was entitled to 15% pension contributions of my £28,000 per annum salary. I also contributed a minimal amount of £20 per month. It was my 'duty' to set up this pension with Standard Life but one thing led to another and the details were not finalised - so my pension contributions are in limbo, and still are to this day.
Am I entitled to ask for these contributions (at least my own) sent to me personally as part of my final package or what?
Eeek!
Thank you.

so why didn't you finalise it?

katerinasol

Have they actually been going into your Standard Life plan? Have you got any paperwork from them?

Judith_W

If you want to retain the tax and NI savings you will need to have them send the funds directly to the next pension plan I think rather than to you first.