Possible Pension Balance from previous employer

Habib2342

Hello,

I was going through my payslips over the last 15 years and noticed there is a pension balance of £500 on the final payslip from a job I held between 2004-05. I cannot remember whether I cashed it out at the time.

Would I be able to claim it if is outstanding ? I've emailed the employer about this but haven't received any response. .

thanks,

Habib.

MallyGirl

Are you over 55?
It is not normal to 'cash out' pensions when you leave a job - they just continue to exist unless you transfer them elsewhere

barnstar2077

Habib2342 wrote: »

Hello,

I was going through my payslips over the last 15 years and noticed there is a pension balance of £500 on the final payslip from a job I held between 2004-05. I cannot remember whether I cashed it out at the time.

Would I be able to claim it if is outstanding ? I've emailed the employer about this but haven't received any response. .

thanks,

Habib.

To me it sounds like you were not in the scheme for very long and so they gave you the money back that you paid in when you left the company. It may be that they gave you the money, or it may have been sitting somewhere for a while waiting for you to get it. It really depends on whereabouts it is on your pay slip.

Marcon

Habib2342 wrote: »

I was going through my payslips over the last 15 years and noticed there is a pension balance of £500 on the final payslip from a job I held between 2004-05. I cannot remember whether I cashed it out at the time.

When you say 'balance', is it shown as an addition to your pay, or a deduction from it? £500 in a month sounds quite a lot to deduct, so I suspect as the previous poster has suggested that this is a refund of your contributions because you were in a company scheme (as opposed to a personal pension, where no refund would have been possible) for less than two years.

Habib2342

It shows as Pension EE just before net pay on my payslip for October 2005. I do recall cashing out the pension balance at the end of the 2004/05 tax year for £900. Between April and October 2005 I made monthly contributions of £77 coming to a final balance of just under £500 for the 2005/06 tax year. Can I retrospectively claim this ?

Anyway I will chase this up with them this week.

thanks,

JoeCrystal

Habib2342 wrote: »

It shows as Pension EE just before net pay on my payslip for October 2005. I do recall cashing out the pension balance at the end of the 2004/05 tax year for £900. Between April and October 2005 I made monthly contributions of £77 coming to a final balance of just under £500 for the 2005/06 tax year. Can I retrospectively claim this ?

Anyway I will chase this up with them this week.

thanks,

Depending on the pension scheme. It is a DB pension or DC pension scheme? I hope you got other pension provisions in place.