Query on pension and PRD contributions

j4vier

Hello
I'm currently working in the public sector but due to finish soon. At the end, I will have less than 2 years of work behind and I am interested in claiming pension and PRD back.
My question is if there are any disadvantages in doing so that I could regret down the line?
I don't think I ll be working in the public sector in the next two years so that won't be a problem.

Would it be more advantageous to claim back just the PRD and don't claim the actual pension contributions since my understanding is that the PRD is just a normal tax while the pension contributions could be useful in the future?

Cheers

melon_collie

OP I would definitely claim back the PRD. If you have worked less than 2 years the contribution would be worth feck all. Better get the lump sum now. I work in the public sector and that is what I would do.

j4vier

yes I plan to claim the PRD for sure but I am still uncertain on the normal pension contributions if perhaps it's better to leave them untouched just in case I do return to the public sector

pemtca

If you do return to the public sector you'll have to pay the PRD back with compound interest

j4vier

pemtca wrote: »

If you do return to the public sector you'll have to pay the PRD back with compound interest

I was confused on this point actually, I thought i read somewhere that this scenario would apply only if i returned to the public sector within 2 years but I believe I was wrong since i don't see any time frames mentioned after doing a quick google

based on this I will probably leave it untouched

thanks for pointing this out

pemtca

No worries!