Help required - Pension Options

Tigersteve

Hi, hope someone can help me.
I opted out of SERPs when it was first possible to, my contributions going to a private pension with the Pru. I received a letter last week, from the Pru, advising I should out back in. If I were to opt back in what are the options open to me re: this pension.
A few facts: I'm 51, being at the same firm since 1974 and have been contributing to the company final salary pension since 1978.

Thanks in anticipation.

dunstonh

If I were to opt back in what are the options open to me re: this pension.

leave it where it is or transfer it to another pension.

A few facts: I'm 51, being at the same firm since 1974 and have been contributing to the company final salary pension since 1978.

has the Pru pension actually been getting NI rebates?

Tigersteve

dunstonh,

Thanks for the swift reply.
As for my NI contributions I thought the answer would be 'Yes'. I've just checked my last yearly statement (dated Aug 2008) - there were no payments to the plan.

Cheers

Steve

Debt_Free_Chick

I would have thought that you are already contracted out via your occupational scheme.

Check the booklet and see what it says.

dunstonh

Have you got any old statements? Many final salary schemes are contracted out and take priority over personal pension contracting out. So, you may actually be contracted out on paper with nothing going to the Pru.

In which case, the whole thing is just a paper exercise.