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Serps?
tony4147
Posts: 356 Forumite
I'm 49 y/o, I was contracted out of SERPS for 18 years with the money being paid into a private pension. To my knowledge contracting out ended in April 2012 and as I understand I am now contracted back in, is this correct?
If I am contracted back in does this mean I will get the additional state second pension?
If I can get the additional state pension can I boost it it additional contributions?
If I am contracted back in does this mean I will get the additional state second pension?
If I can get the additional state pension can I boost it it additional contributions?
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Comments
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To my knowledge contracting out ended in April 2012 and as I understand I am now contracted back in, is this correct?
correct (assuming you were not already auto contracted in at an earlier date)If I am contracted back in does this mean I will get the additional state second pension?
Assuming current system and not proposed system, then you will be qualifying for a state second pension on all the years you are not contracted out as long as you pay class 1 NI and have sufficient income. (ie. you are not self employed)If I can get the additional state pension can I boost it it additional contributions?
No. Plus, we have the new state pension proposals for 2017 think of.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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