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SERPS/COPE confused
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Hi can somebody please explain, in very simple terms how this effects me? I am 53 and was contracted out in c1990 until it ended in 2016, I have a private pension from this with C£70k in it.
If you were contracted out until 2016, then this is a DB pension.
https://techzone.abrdn.com/public/pensions/Tech-guide-contracting-out
A DB pension does not have a "pot" - do you mean that the CETV is £70,000?
Your DB pension offers you benefits related to your salary and the benefits usually include a pension for a spouse in the event of your predeceasing her.
Are you still a member of this DB scheme or is the pension deferred?
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