Confusion

dancinghomer

Hi folks,

Going back about 20 years I have some recollection of having a meeting about opting out of serps!
Now with everything that's happening I'm trying to sort out finances and have been advised that it would be better to opt in again.
Trouble is I'm not sure whether I did or didn't! (I know I know:embarasse )

So can anyone tell me how I go about checking?
Is it simply a call to the tax office or someone else?

Any help would be appreciated.

Thanks in advance

Homer

dunstonh

Now with everything that's happening I'm trying to sort out finances and have been advised that it would be better to opt in again.

Once you get to 45 (male) or 40 (female) it is worth contracting back in as the rebates are not high enough after that point to make it worthwhile.

Trouble is I'm not sure whether I did or didn't! (I know I know:embarasse )

It would be paid into a personal pension each year and you would get a statement sent out each year. The bit of pension relating to contracting out is called protected rights. Check your pension statement and see if protected rights is shown on it.

Out of interest, if you dont know your pension and if you are in or out of S2P then how can you be advised to contract back in?