We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Please Help Company Took Its Contributions Of Me - Can It?
woowoomummy_2
Posts: 5 Forumite
About 4 1/2 years ago my partner + I worked (he still does) for a firm who found out that they had been illegally sold a pension by Friends Provident and the ombudsman made F.P repay all monies paid in.
Anyway, we were given the opportunity to transfer it to another pension, or have our money back. We chose our money back as we were expecting.
The people who transfered to another pension were given the money they paid in and the money the company paid in. We were only given back the money we paid in.
I was wondering if this is legal, as in our contract of employment one of the t+c's was the contributory pension scheme, so to then take the money back, surely is wrong?
Please help, I look forward to your response
Anyway, we were given the opportunity to transfer it to another pension, or have our money back. We chose our money back as we were expecting.
The people who transfered to another pension were given the money they paid in and the money the company paid in. We were only given back the money we paid in.
I was wondering if this is legal, as in our contract of employment one of the t+c's was the contributory pension scheme, so to then take the money back, surely is wrong?
Please help, I look forward to your response
0
Comments
-
The company contributions have to go to a pension. Your contributions could be refunded. So, those that transferred to another pension kept both. You chose to have the cash so you only got your bit and not the companies.
This is why its nearly always best to transfer to another pension than it is to take the cash.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 -
oh...., thats me told then!!! thank you and regards.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards