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Refund of Pension Contributions

  • 23-09-2011 11:21am
    #1
    Wile E. Coyote
    Registered Users, Registered Users 2 Posts: 1,560 ✭✭✭


    My wife is looking to cancel her pension and receive a refund of her contributions.

    She has been paying in for under 2 years and I always thought that if you were paying in for under 2 years you could receive a refund minus your employers contribution and your tax at 20%. I cancelled mine with no issue at all but she has been told that:-

    'Revenue rules dictate that the member cannot receive a refund of contributions unless she leaves service even if she leaves the scheme.'

    Can anyone tell me if this is true or point me in the right direction to where this is stated?

    Thanks


Comments

  • #2
    cookie1977
    Registered Users, Registered Users 2 Posts: 6,794 ✭✭✭cookie1977


    I know in UCD if you've less then 2 years served with pension payments you can do what you speak of, as in refund minus employers contribution, minus tax


  • #3
    Kennie1
    Registered Users, Registered Users 2 Posts: 302 ✭✭Kennie1


    Wile E. Coyote wrote: »
    My wife is looking to cancel her pension and receive a refund of her contributions.

    She has been paying in for under 2 years and I always thought that if you were paying in for under 2 years you could receive a refund minus your employers contribution and your tax at 20%. I cancelled mine with no issue at all but she has been told that:-

    'Revenue rules dictate that the member cannot receive a refund of contributions unless she leaves service even if she leaves the scheme.'

    Can anyone tell me if this is true or point me in the right direction to where this is stated?

    Thanks
    This is the case alright. She would have to quit her job before she had 2 years scheme membership to get a refund.


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