How can we find where "SERPS" and contracting out payments are going to?

niallmitch

Hi

My wife thinks she took out a pension in her late teens (late 80s) and contracted out of Serps but didn't make many/any payments - her personal tax account does show that she is contracted out but doesn't show who with.

She thought that this was maybe with Abbey Life but Phoenix Life have written back to say they have no trace.

What is the easiest way to find out where these payments are going to? And after 30 years of payments, is she likely to have any pension funds built up from this?

She has worked in care most of her career so doesn't have much of a pension built up otherwise.

thanks

[Deleted User]

Look at the last post here, good place to start
https://forums.moneysavingexpert.com/discussion/6061312/how-to-track-out-of-serps-pension

https://forums.moneysavingexpert.com/discussion/6114417/tracing-pensions-by-ni-number

Albermarle

Be aware that the option of contracting out ended in April 2016 .
Your wife would not have noticed any difference in her pay packet though.

Dox

Deleted_User said:

Look at the last post here, good place to start
https://forums.moneysavingexpert.com/discussion/6061312/how-to-track-out-of-serps-pension

https://forums.moneysavingexpert.com/discussion/6114417/tracing-pensions-by-ni-number

Only where someone was contracted out via a company (occupational) scheme, otherwise NISPI will only be able to confirm the dates of contracting out, not the provider of the personal pension used to contract out.

OP, your wife's pension is likely to have been funded purely by NI rebates (the difference between the contracted out and the not-contracted out rates), which would have been paid direct to the pension provider. Depending on the length of time/her level of earnings/the charges levied by the pension provider, there may or may not be funds there. Presumably she hasn't updated her address if she's moved house (as if likely) since the 1980s?