CIF Pensions

Antho1966

I was asked lately about CIF Pensions about surrender value.
Can this person sell said pension on?

Any replies will be passed on

regards

Liam D Ferguson

I'm reading from your post that you know someone who was working in the construction industry and now has a fund accumulated in the CIF pension scheme.

You cannot sell or otherwise assign a pension fund to a third party.

Antho1966

Thank you for your response.
This is what I thought.
Can you provide a link
I will let him know
regards

Doom

Can you not draw it down if its under a certain amount? i.e. under 3k

Liam D Ferguson

http://www.cwps.ie/faq/FAQmembers/default.aspx

Liam D Ferguson

Doom wrote: »

Can you not draw it down if its under a certain amount? i.e. under 3k

You can only draw down benefits from age 60 onwards except in case of ill-health.

Antho1966

Thanks Liam and Doom for your responses.

He has gone to their HQ today and will let ye know how he gets on.

Sorry for being so slow in getting back.

Thanks again

The J Stands for Jay

Liam D Ferguson wrote: »

You can only draw down benefits from age 60 onwards except in case of ill-health.

Would a transfer to a buy out bond give access from age 50?

Antho1966

He has not gone to hq yet.

I was speaking since with a man who has 25 yrs pension payments + topups twice yearly for about 20 years.
Most of the money has been lost on stock market and amount left is not worth talking about.

Liam D Ferguson

Antho1966 wrote: »

He has not gone to hq yet.

I was speaking since with a man who has 25 yrs pension payments + topups twice yearly for about 20 years.
Most of the money has been lost on stock market and amount left is not worth talking about.

Have you any more specific details? How much in total has he paid in over 25 years? How much is the fund worth now? What company is it with?

Antho1966

Liam thanks for your reply.

I take it that you have an interest yourself.

When I get new info I will let ye know.

I have a very unhealthy feeling that we are speaking about another scam.

Antho1966

Sorry Liam all payments would have been made by said very very large construction co.

You have made some good points. I will follow up

Liam D Ferguson

As a Financial Broker, I have an interest in pensions in general but I have no connection with the CIF pension scheme.