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Would you wait out the vesting period?

1 reply

magicalkitty · 14/08/2023 19:28

I work in a job which has a good pension scheme, but I will have to work there for 2 years to qualify. If I leave before that point, I would be able to claim a refund on my contributions but I'll lose the employer contributions.

I am early 30s so retirement is a long way away, but my pensions so far are crap. I have about £4k in two different ones from past employers.

My current employer has a scheme which pays a certain amount every year, depending on final salary and how many years I paid in. If I only pay in two it won't be much obviously, but it will be something.

Trouble is I feel a bit lost in my role and not progressing, so I am getting itchy feet about staying for two long as I want to have a good career. But I won't meet my 2 qualifying years for another 8 months. Would you stay in order to qualify, or cut your losses and look for another job now?

OP posts:
HundredMilesAnHour · 14/08/2023 19:40

Sit tight for 8 months. It's worth it. You're only early 30s so those extra contributions will build up over the next 30 years and could be worth quite a lot!

Background: When I was mid-20s, I resigned from a job at 22 months so lost all my employer contributions (we had the same 2 year rule). Now I'm early 50s and look back and think what a bloody idiot I was!

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