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Withdrawing Pension after short service

  • 14-11-2011 12:01PM
    #1
    NobodyImportant
    Registered Users, Registered Users 2 Posts: 585 ✭✭✭


    Hi All,

    I was working for a company for about 2 years. Towards the end they finally got my pension up and running and I had 3 months of contributions (Me and employer). I got made redundant and they put in about €2k as an AVC.

    This was back in April 10.

    Im employed now with a pension, but the old one is still sitting there. With tough times ahead, can I take that pension fund out and just pay tax on it?

    Thanks.


Comments

  • #2
    okiss
    Registered Users, Registered Users 2 Posts: 702 ✭✭✭okiss


    I would contact the hr department of the last company and ask them can you withdraw your pension.
    You need to be aware of the following:
    Once your in the scheme 2 years you can't withdraw the funds but the fund is there for you on retirement or when you reach a certain age.
    You will only get the money you put in less tax ie the company pays €1000 and you pay a further €500 - you will only get back the €500 less tax.
    This money could be worth a lot to you at a later stage then now.


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