Deffered pension valuation

Albermarle

xylophone said:

It was a long time ago and unfortunately have no idea. All I know that I was in a DB scheme, and that around 1987 we were given info about the possibility of opting out of SERPS by having a DC pension where the associated NI was paid each year.

Still somewhat puzzled.

https://techzone.abrdn.com/public/pensions/Tech-guide-contracting-out

Does this extract not explain?

Key points

• Allowed individuals to elect to replace accrual of Additional State Pension with private pension savings
• Employers and employee paid reduced rates of NI contributions
• Available under different types of scheme: contracted out salary related schemes (COSR),

xylophone

But how could a member of a COSR also have had a COMP or APP?

https://library.croneri.co.uk/cch_uk/btr/1006-100

The third route to contracting-out, until 6 April 2012, was the Appropriate Personal Pension (APP), which might also have been within the Approved Stakeholder Pension (ASHP) rules. An employee who was not a member of an occupational scheme could still take out a personal pension for pension savings, but from 2012–13 to 2015–16 it could no longer be used to contract out of S2P.