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Failed probation; pension contributions
Eleanorus
Posts: 17 Forumite
My son started working for Getir last March as a courier (delivery driver.) Six months ago he applied for a managerial post and started a probationary period. He paid into the company pension while he was in this post and probably the previous one. He was dismissed two days ago as he had not successfully completed his probation. There are no courier jobs available as Getir is making 16% of its UK staff redundant. How does he get back the money he contributed?
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Get his money back back from where? It is his money and it is in his pension scheme. Normally it is a bad idea to have personal contributions refunded (if that is an option), as he would lose any employer contributions, so best to just leave the pension alone ready for it's intended purpose - retirement.What type of pension scheme was it - a Defined Benefits scheme (final salary or CARE) or a Defined Contributions scheme?I am a Forum Ambassador and I support the Forum Team on the Benefits & tax credits, Heat pumps and Green & Ethical MoneySaving forums. If you need any help on those boards, do let me know. Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.Our green credentials: 12kW Samsung ASHP for heating, 7.2kWp Solar (South facing), Tesla Powerwall 3 (13.5kWh), Net exporter0
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If it was going in to a normal DC pension then the best thing would probably be to leave it in there. Unless there are special terms relating to short length of employment then he can't take it out till he is at least 55.
Once he gets a new job he might be able to transfer it to the new one.I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
He doesn't - but the good news is that he keeps the company contributions as well as his own towards his future retirement provision.Eleanorus said:My son started working for Getir last March as a courier (delivery driver.) Six months ago he applied for a managerial post and started a probationary period. He paid into the company pension while he was in this post and probably the previous one. He was dismissed two days ago as he had not successfully completed his probation. There are no courier jobs available as Getir is making 16% of its UK staff redundant. How does he get back the money he contributed?Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0 -
He should keep the paperwork/e mails etc for the pension and make sure he informs the pension provider of any change of address in future. As said when he gets a new job that will have a pension associated with it as well and he should also sign up for it.
In future he can transfer pensions, to keep the number of pensions down to a manageable level. It is very easy to do this nowadays and normally free.0
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