Some years ago I had a second job, zero hours contract and was auto-enrolled into their pension scheme. As I didn’t work many hours, i very rarely earned enough to meet the threshold to make pension contributions. I’ve found my old payslips and in total I paid a whopping £8.62 in pension contributions!
I’m fairly sure that £8.62 won’t go far when I retire! It’s not worth having and it seems pointless wasting people’s time dealing with it. I’m thinking of writing to the pension company and asking them to close down the pension account and give the money to charity. ( The LGPS will only allow you to cancel and get your contributions back in the first two years, so I’m assuming that this pension scheme is similar, which is why I am not going to ask for a refund to be sent to me )
I’m early 50s, work full time in local government and have 30 years of membership of the LGPS, so I’m hoping I’ll be able to get by in retirement without my £8.62.
Would I be foolish to ask the pension company to close the account and give the money to charity?