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Article on pension in Sunday Times

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  • 22-09-2003 4:09pm
    #1
    esentziak
    Registered Users Posts: 57 ✭✭


    transfer one occupation pension scheme into another
    There is an article on pensions in yesterday's Money supplement of the Sunday Times.

    In a Q and A at the bottom of the page, the question is:

    I am in a company pension scheme but I'm leaving my job soon to set up my own firm. Can can I do with my company pension?

    part of the answer is:

    setting up a new occupation scheme of your own, through you own company, with just one member. You can either contribute to this afresh, or transfer the funds from your old scheme into it as long as it was for less than 15 years.

    The reference to the 15 years surprised me. Does this mean that if you have been in a previous occupational scheme with an employer for more than 15 years, you cannot transfer the accumulated fund into a new pension scheme?

    Anybody any idea where I can check this out? Thanks

    esentziak


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