Asda Pension Scheme

EternallyGrateful

Thank you. My wife requested a state pension statement. It estimated (based on new rules system starting 6 April 2016) that on her retirement date in 2021 she would receive £143.50 a week. It also confirmed that she has 40 qualifying years. Later in the statement it refers to a Contracted Out Pension Equivilent and that my wife's COPE amount is £7.75 a week (I rounded it to £30 a month).
When my wife originally joined the scheme she was definitely not contracted out - that change came later but I honestly don't remember there being mention of it becoming contracted out or when it happened.
I think one of the things that's confusing me is that when I contracted out back in (I think 1989) my adviser set up a fund with AXA to receive my contracted out portion. I would receive regular statements telling me precisely what was going in and what the value was. Of course in my wife's case this hasn't happened which reinforced to me that she couldn't have been contracted out. I now realise that her contracted out portion was reinvested back into the Asda scheme without being specifically identified.
Unfortunately, once the annuity was set up, I stupidly thought I had no further use for the mountain of paperwork that Asda provided. I seem to remember that most of it was taken up with Squirrel cartoons anyway!

greenglide

You could always request an NI contributions "statement" from HMRC. You can apply online here https://online.hmrc.gov.uk/shortforms/form/NIStatement

This is different from the pension estimate and if you ask for the correct statement it should tell which tax years she was contracted out for - the contracting out may have been for a different period?

xylophone

COPE (first time I have seen this acronym!) explained here https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/476594/your-state-pension-statement-explained-dwp042-nov-2015.pdf
page 10 and 11.

Have you tried the HMRC pension helpline (post 9)?

C_Mababejive

I suppose the big question is,, at the time if you were aware, could you have had the option of joining the company pension scheme AND remain contracted in to serps.

EternallyGrateful

Had that been an option I would have gone for it. I simply remember saying to my wife "It's a no-brainer" when given the information Asda provided.
Anyway, thanks to all for your various contributions, you have probably provided enough references and stuff for me to get the information I need.

dunstonh

Occupational schemes rarely give the choice. Group schemes can do.

EternallyGrateful

For anybody who might still be interested in my 'plight' I have found the document that I was referring to. There is no mention of being contracted out because it's nothing to do with that. It was called Pension Saver and is at:- https://everyonebenefits-asda.com/pdf/Asda%20Pension%20Saver%20Hourly%20Paid_FINAL.PDF
Because there was mention of her being contracted out according to her Pension Statement I had presumed it referred to this memory I had of the Asda scheme changing. I was wrong, it's nothing to do with that which means I do need to pursue it with the DWP because my wife has never been contracted out!
Oooops sorry Daniel54 I have just seen that you referred me to this same document and I previously missed it. I will also do as Greenglide and Xylophone have suggested too before I do anything else. Thanks to all.

greenglide

So it matters now as the time spent contracted out must have built up a pension "somewhere".

She never worked in the public sector in any of its guises - civil service, local government, education, armed forces, police, NHS, fire service?

She never worked for financial services, large retailer other than ASDA (TESCO always had a contracted out scheme), any of the large companies of old?

Maybe try the government pension tracing service - https://www.gov.uk/find-lost-pension

dunstonh

For anybody who might still be interested in my 'plight' I have found the document that I was referring to. There is no mention of being contracted out because it's nothing to do with that. It was called Pension Saver and is at:- https://everyonebenefits-asda.com/pdf/Asda%20Pension%20Saver%20Hourly%20Paid_FINAL.PDF

That version of the document was written after the abolishment of contracting out. So, you would not expect any reference to it.

EternallyGrateful

I'm afraid none of the above! She worked at a company between 1973 and 1981 (where we met) before leaving and having two children. She resumed work in 1987 when she joined Asda and left there in 2011.
She joined the company pension scheme in 1980 but when she left in 1981 had to receive a full refund of contributions (under scheme rules) because she was a member for less than two years.
She started a personal scheme in the mid 90's but shortly after that Asda started their scheme which she joined but that meant, again, she had to receive a full refund of contributions from the personal scheme.
Since contracting out only came into being in 1978 and I'm now certain that she wasn't contracted out at Asda the only period remaining is either: 1980/81 between joining the company scheme and her maternity leave, or something to do with the abandoned PPS in the 90's. Either way it has to be a mistake................. I think!