SERPS

deliaderek

My partner opted out of serps back in the 80’s while working for royal Doulton, despite huge efforts he cannot locate or trace what has happened to his money, does anyone know how to trace this account 

colsten

You best ask this question on the Pensions board. In a nutshell, he needs to ask Royal Doulton / their pensions administrators.

xylophone

Has your husband obtained a state pension forecast?

https://www.gov.uk/check-state-pension

When he left the company, was he given a statement of deferred benefits?

Has he checked with the PPF?

https://www.ageuk.org.uk/information-advice/money-legal/pensions/tracing-old-pensions/

Scorcher62

My wife and I both opted out of SERPs in the 1980's (not sure why) does this mean we will not be able to claim a state pension when we retire?

Dazed_and_C0nfused

Scorcher62 said:

My wife and I both opted out of SERPs in the 1980's (not sure why) does this mean we will not be able to claim a state pension when we retire?

Wouldn't the simplest thing be to just get a State Pension forecast (for each of you) off gov.uk and then you can actually see where you stand before worrying about things which may not even be an issue.

dunstonh

My wife and I both opted out of SERPs in the 1980's (not sure why)

Contracting out of SERPS (not opting out) was either a mandatory requirement of being in employer's workplace scheme or a choice if you didn't have a workplace scheme and operated your own personal pension.      Most people who have contracted out of SERPS are better off financially.

does this mean we will not be able to claim a state pension when we retire?

No.     However, the amount you get may be affected by it.  

Ocelot

You will get a state pension, but will get a lower amount because your NI contributions were lower during the time you were contracted out, and put into an occupational pension instead.

kaMelo

Ocelot said:

You will get a state pension, but will get a lower amount because your NI contributions were lower during the time you were contracted out, and put into an occupational pension instead.

Not necessarily, in fact many who did opt out of SERPS will be better off. They will be entitled to a full new state pension as well as their SERPS funded private pension.

xylophone

State pension forecast here

https://www.gov.uk/check-state-pension

Scorcher62

Dazed_and_C0nfused said:

Scorcher62 said:

My wife and I both opted out of SERPs in the 1980's (not sure why) does this mean we will not be able to claim a state pension when we retire?

Wouldn't the simplest thing be to just get a State Pension forecast (for each of you) off gov.uk and then you can actually see where you stand before worrying about things which may not even be an issue.

Thank you I will, and just for the record i didn't say I was worried.

moneysaver

I opted out of SERPS in the 80's. I have checked my pension forecast & qualify for a full state pension. I also transferred my SERPS money into a SIPP. So when I retire I should get more than my state pension alone.

Moneysaver