Potential Redundency

bodybutter

Hi gang,
well 15 months into new job and it's all change. My relationship with my two bosses has gone down hill. I thought about leaving a long time ago, but decided to hang on in there for the pension. Anway, the company is looking at outsourcing and my role is one thats deemed adequate for outsourcing.

If I go I lose my pension, but if I stay I get made redundant which I dont really want. Do I get to keep the pension if they let me go?

homer_j_3

What type of pension is it?

How long have you been working for your employer?

bodybutter

I have been with the company now 1 year and 3 months.

The pension is a contributory, I get 5% of my salary from the company automatically and then they match me if I put in my own 5% they give me another 5%. So the company pays 10% and I pay 5%.

homer_j_3

The pension should be frozen and you will retain the value in there. If you speak to your hr team, they should have a help line where you can call and ask all the questions you need.

As you have been there less than 2 years, you may not get paid redundancy, unless the company has a specific policy in place saying otherwise.

I would talk to the pension co and then think about whether you should start looking yet or wait until you know for certain, you will be chosen.