SERPS question

stevedeer

Hi all

I've recently been reading about people transferring their serps into a sipps. I have never opted out of the serps scheme as I was self employed at the time it became an option, and was not allowed to do it.

is it possible to find out where my serps contributions are held, the value of the fund and if it's allowable for me to move them into a sipps.

I'd be very grateful for any information/direction.

Steve

Shimrod

If you've never contracted out of SERPS (now called state second pension) then you don't have any fund - the government has the money! Any SERPS/S2P rights you have earned will be paid out as an enhanced pension on top of the state pension at retirement age. There is no way for you to access this extra pension before state retirement age which is one of the reasons why some people choose to opt out.

I would suggest you contact the department of work and pensions and request an pension forecast - this will show any S2P you have accumulated - I am not sure what rules apply when you are self-employed.

Cautious_Investor_3

Hi

The SERPS question is one only for employees, being self employed you have no "fund" to transfer.

The Cautious Investor