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24th September 2019, 10:08 | #21 | |
This is my second home
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And as I said earlier - most old schemes for contracting out had higher charges than modern schemes. |
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24th September 2019, 10:32 | #22 |
Gets stuck in
None at the moment Join Date: Jan 2018
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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
Last edited by RoverP480; 24th September 2019 at 10:37.. |
24th September 2019, 11:45 | #23 |
I really should get out more.......
MG ZT 180+ auto Join Date: May 2016
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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.
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24th September 2019, 12:16 | #24 | |
This is my second home
MG ZT CDTi Join Date: Jan 2014
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It is not gloss primer .............. it is duct tape silver! |
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