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Contracted out Personal Pension Plan
arh1001
Posts: 1 Newbie
I have a contracted-out personal pension plan with SW with NRA of 65. Can i defer this NRA to a later date?
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Comments
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Was this an old "protected rights" arrangement?
https://forums.moneysavingexpert.com/discussion/5630928/no-gmp-on-scottish-widows-contracted-out-personal-pension0 -
Contracted out PPPs became non-protected rights a number of years ago. The scheme age on this is just an indication for statement purposes and can be changed to whatever you like. However, some old schemes may have restricted software settings that may not allow multiple deferments. So, putting it to age 75 may be easier. That is fine in most cases but could be an issue with some with profits funds.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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