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contracted out and a carer advice needed
starfish10
Posts: 185 Forumite
I contracted out in 1987 and have a pension policy with Royal London. I think I stopped working enough hours to pay into it about 10 years later as the notional personal fund is £1958.21 at 31. 12. 2006. I keep getting letters asking me if I want to contract back in. What is the best thing for me to do as I am now a carer for my disabled son and only work a few hours per week. I probably will never pay into this again as I will be his carer for the future. Can I do anything with this spare bit of money or will it have to stay there until I retire?
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I just want to know whether to be back in?0
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if you arent working then you are not really contracted out. You are on paper but it means nothing without you paying employed NI. You may as well contract in to save paper.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.0
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