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    • Cottage Economy
    • By Cottage Economy 16th May 18, 12:19 PM
    • 945Posts
    • 4,013Thanks
    Cottage Economy
    Contributions for old pension with M&S
    • #1
    • 16th May 18, 12:19 PM
    Contributions for old pension with M&S 16th May 18 at 12:19 PM
    Just been ringing round tracing old pension schemes and discovered I was part of the M&S pension scheme when I worked there from approx 1989-91/92 between the ages of 16-18/19.

    I had no idea I was part of a pension scheme, and apparently you had to work there for two years to be eligible to join it and I have no recollection of any paperwork or conversations about it. I kept my head down and stacked shelves part time every week for 2-3 years before going to uni. I should add I was living at home at the time and left after a breakdown of the relationship with my parents (about going to uni - education is wasted on women, etc) so it is entirely possible my father binned any correspondence about it out of spite.

    However, as I had less than two years in the scheme apparently there are no pensionable benefits are available to me.

    If I was in an FS scheme for less than two years, what happened to the contributions when I left (not sure how I missed contributions on my payslip)? I know what happens in a DC scheme but not FS scheme. Are my contributions just lost? Is it too late to do ask about this now?
    Last edited by Cottage Economy; 16-05-2018 at 12:33 PM.
    'Save 12k in 2018' 2,500/6,000 (42%)


    "...success in personal finance isn't about mastering the technicalities. It is about mastering yourself."
Page 1
    • Silvertabby
    • By Silvertabby 16th May 18, 1:19 PM
    • 2,722 Posts
    • 3,890 Thanks
    Silvertabby
    • #2
    • 16th May 18, 1:19 PM
    • #2
    • 16th May 18, 1:19 PM
    Just been ringing round tracing old pension schemes and discovered I was part of the M&S pension scheme when I worked there from approx 1989-91/92 between the ages of 16-18/19.

    I had no idea I was part of a pension scheme, and apparently you had to work there for two years to be eligible to join it and I have no recollection of any paperwork or conversations about it. I kept my head down and stacked shelves part time every week for 2-3 years before going to uni. I should add I was living at home at the time and left after a breakdown of the relationship with my parents (about going to uni - education is wasted on women, etc) so it is entirely possible my father binned any correspondence about it out of spite.

    However, as I had less than two years in the scheme apparently there are no pensionable benefits are available to me.

    If I was in an FS scheme for less than two years, what happened to the contributions when I left (not sure how I missed contributions on my payslip)? I know what happens in a DC scheme but not FS scheme. Are my contributions just lost? Is it too late to do ask about this now?
    Originally posted by Cottage Economy
    There are 2 possible reasons why you don't have any benefits in the scheme (sounds like you have checked?)

    1. The M&S scheme was non-contibutory at the time (ie, only M&S paid into the scheme on your behalf ). Perhaps someone who worked for M&S at the time can confirm?

    2. If you had paid contributions, but didn't accrue any actual pension rights, then M&S may have sent a cheque to your home address.
    Last edited by Silvertabby; 16-05-2018 at 1:21 PM.
    • Dox
    • By Dox 16th May 18, 3:23 PM
    • 501 Posts
    • 300 Thanks
    Dox
    • #3
    • 16th May 18, 3:23 PM
    • #3
    • 16th May 18, 3:23 PM
    It was indeed non-contributory at the time OP belonged to it.

    OP - there would have been no employee contributions to refund and you wouldn't have received any paperwork after leaving. The scheme held no benefits on your behalf because you had under two years of pension scheme membership.
    • Cottage Economy
    • By Cottage Economy 16th May 18, 4:50 PM
    • 945 Posts
    • 4,013 Thanks
    Cottage Economy
    • #4
    • 16th May 18, 4:50 PM
    • #4
    • 16th May 18, 4:50 PM
    There are 2 possible reasons why you don't have any benefits in the scheme (sounds like you have checked?)

    1. The M&S scheme was non-contibutory at the time (ie, only M&S paid into the scheme on your behalf ). Perhaps someone who worked for M&S at the time can confirm?

    2. If you had paid contributions, but didn't accrue any actual pension rights, then M&S may have sent a cheque to your home address.
    Originally posted by Silvertabby
    It was indeed non-contributory at the time OP belonged to it.

    OP - there would have been no employee contributions to refund and you wouldn't have received any paperwork after leaving. The scheme held no benefits on your behalf because you had under two years of pension scheme membership.
    Originally posted by Dox
    Thanks both. That's put my mind at ease.

    I shall consider the matter laid to rest!
    'Save 12k in 2018' 2,500/6,000 (42%)


    "...success in personal finance isn't about mastering the technicalities. It is about mastering yourself."
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