Tag: contracting out
Protected Rights – new possibilities from April 6th
Historically, many people chose to contract out of the State Earnings Related Pension Scheme using their money purchase pension. Put simply, this meant that the money that would have gone into SERPS went into their personal pensions instead – effectively, they were swapping known benefits from the Government for unknown (but potentially greater) benefits from [...]
Read moreAbolition of contracting out on a defined contribution basis
It is intended that from the 6th April 2012 people will no longer be able to contract out of the additional State Pension (also known as the State Second Pension) on a defined contribution (money purchase) basis. It is now intended that instead they will automatically be brought back into the additional State Pension and [...]
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