Pension Query as a 24 year old.
Hi,
Looking for advice on what to do with my pension. I am a 24 year old with €8500 in my pot. This is from 1 year 10 months service. I have accepted a new role in a new company due to lack of jobs prospects (currently in a graduate programme).
I have since learned that as I am leaving with less than two years service I will lose all my employer contributions, frustrating to say the least! (I pay 6% and they contribute 10% so well more than half the fund).
Will my fund revert to just my own contributions and will continue once I start a pension with my new employer?
Or, will I get a ‘refund’ less taxes of my contributions to start all over again?
Please help - from an anxious young lad!
*Edit - I should add that my HR department told me to contact my pension provider but I have not gotten an answer as I haven’t technically ‘finished’ up yet.