Question regarding contributions

Any news on the pension front, please put it here.....

Moderator: Vixen

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Alec
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Mon Feb 14, 2005 7:53 pm

Hello all. I'm currently working on the CGG Symphony (old Atlantic Horizon). With regards to the pension can anybody answer for sure what will happen to your contributions if we decide to wind up the pension fund. I've asked about 6 different people and half say you will get a payment depending on how much you've put in, the other half say you wont get a payout, you'll have to transfer your contributions to another fund. That is the last thing I want to do as I have no trust whatsoever in any of these pension funds anymore, especially after the way we've been buggered about with this one.
Any info will be gratefully received,
Best regards,
Alec.
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marky9074
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Tue Feb 15, 2005 4:22 pm

I have been told categorically by my financial adviser that you cannot in any circumstances get access directly to the funds of a pension until such time as you retire. You can only as has been already stated, transfer to another scheme or leave it as 'paid up'.

There are unusual circumstances where this is not the case i.e. you retire earlier than the norm, but unless there are some pop stars or footballers amongst us I doubt that this is the case...

Mark
Alec
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Tue Feb 15, 2005 5:04 pm

Thanks for the info Mark. I suspected as much but was hoping against hope we could maybe get the money. If, God forbid that I don't reach retirement age, any ideas what would happen to my contributions then?
Would my wife receive anything or would the government or some other thieving git get their hands on it?

Alec.
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