You should review your options here Dawn - treat it like any other savings scheme - put it where the charges are low and the returns good.

And as I said earlier - most old schemes for contracting out had higher charges than modern schemes.

I have a final salary company pension from Land Rover and was contracted out of the enhanced state scheme. At the moment that bit of the company pension funded by being contracted out is paying more than I would have got from the state if I had been 'Not contracted out' . As I understand it, if in the future , should that bit of my company pension fall below what I would got from the state, it will be topped up by the state pension. Hope that makes sense. It means I am better off at the moment but I don't loose out if that bit of my company pension fall below the state one. Pension rules are very complicated and proper advise is essential

I still only earn basic and am on my own. I cant afford to pay more in or employ a pension advisor. I scrimp and save to do what I do now. I did get a forcast. It gave me the standard rate but then underneath warned the Serps would be taken off. It looked like £20 but I am no expert. My entire pension will only earn me that atm - so I am worse off by far from opting out as most of my pension fund came from my contributions not serps. So it feels luke Iv'e paid a bit in all my life and for nothing.

Dawn, I can recall the serps situation. It was all the rage selling in the bank I used at the time, 25 years ago. I didn't do it and glad now i didn't. But recently have seen ads for compensation for these schemes, in a similar way to ppi (and certain endowment mortgages). It may well seem like you would have a case for being missold. It could be worth a quick Google to see if such things do in fact exist.

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