Council worker

Hi,

I opted out of serps when the government gave the financial incentive in 1989, I then worked for a private firm for a year before being employed by the council for the last 15 years.

I phoned my pensions dept this week and the woman said that I would have been automatically opted back in when I joined the council but didn't sound confident or explain it very well. I asked how I could know for sure and she advised me to complete a pensions forecast form.

Where oh where can I actually find out if I was indeed put back into serps or not.

Thanks for any advice
Shanni

Comments

  • sce37
    sce37 Posts: 130 Forumite
    Can't be sure if a pension forecast form will provide you with that information but it is worth doing so anyway. You will need to complete a BR19 available from your nearest social security office, pension centre (0845-6060265). Alternatively you can ring 0845 300 168 and a forecast application form can be completed over the telephone.

    The Inland Revenue maintains the records for national insurance contributions. Found their website http://www.inlandrevenue.gov.uk/nic/aboutus.htm
    This may be a good starting point in finding out about whether you were contracted out or not. Hope this helps.
    I say what I like, I like what I say!
  • dunstonh
    dunstonh Posts: 116,044
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    Local Govt pension schemes are contracted out so they are correct.

    Technically, your private pension will still show as available to collect contracting out payments. If you were to leave the local govt scheme and go into employment with no contracted out occupational scheme, then you may find the contracting out begins again automatically.

    You need to ask the pension provider for your protected rights pension for info on your protected rights.
    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.
  • shanni
    shanni Posts: 353 Forumite
    Thank you both for your replies.

    DD I'm really sorry but I still don't understand (dull I know :-/). Do you mean that my Nat Ins contributions are going to serps or the council's own pension scheme? or the central government serps. I have superann but that's a seperate thing altogether isn't it?

    Basically does it mean that my NI contbs are not going to the company I originally opted out to (General Portfolio)? The woman said I would have a small frozen payment 'somewhere' for the year I opted out.

    Sorry for being like dishwater, I've never been able to grasp financial matters. That's whay I'm here I guess.
    Thanks ever so much
    Shanni
  • dunstonh
    dunstonh Posts: 116,044
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    DD I'm really sorry but I still don't understand (dull I know ). Do you mean that my Nat Ins contributions are going to serps or the council's own pension scheme? or the central government serps. I have superann but that's a seperate thing altogether isn't it?

    Basically does it mean that my NI contbs are not going to the company I originally opted out to (General Portfolio)? The woman said I would have a small frozen payment 'somewhere' for the year I opted out.

    Contracted out has two meanings. One with occupational pension schemes and one with personal pension schemes (individual or group).

    Whilst in the local govt scheme you are contracted out but you are not getting the benefits of this. There is no seperate fund building up for you like it does in a private arrangement.

    Your "previous "private arrangement with GP is not getting this money.
    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.
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