Pensions query
Discussion
The Leaper said:
The gross refund will be subject to tax before receipt, whereas the aggregated contributions could be transferred gross without a tax deduction.
But when they are reinvested into another pension scheme OP will get the tax relief back again. 
Hence I can't see any difference. Same outcome either way.
The Leaper said:
Not right.
The statutory right to a transfer is acquired after 2 or more years of participation in a pension scheme. The OP states he has less than 2 years so he has no statutory right. Maybe he could ask if his own contributions could be transferred and see what CSPS says.
R.
I thought there were slightly different in theory but the same in practice rights for those with less than two years' service: Cash Transfer Sums rather than CETVs?The statutory right to a transfer is acquired after 2 or more years of participation in a pension scheme. The OP states he has less than 2 years so he has no statutory right. Maybe he could ask if his own contributions could be transferred and see what CSPS says.
R.
If the OP takes a refund and then pays them into another pension scheme he will get tax relief on those contributions paid to the new scheme. The point is that the refund is not gross, it's net of tax deducted before receipt so the contributions repaid will be lower than the gross paid to the first scheme.
R.
R.
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