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Contracting out..to stay or not?
This is a discussion on Contracting out..to stay or not? within the The Roadside Hotel forums, part of the Members Area category; My personal pension provider has sent me a couple of times forms suggesting I no longer stay contracted out, but ...
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31-01-2007, 20:26
| #1 |
| Briskodian  Join Date: Feb 2003
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| Contracting out..to stay or not? My personal pension provider has sent me a couple of times forms suggesting I no longer stay contracted out, but to opt back in to the Government scheme. I am of the mind to stay as is, and view their target to to partly reduce their running costs to them of my pension. Have you had this sort of form, and what have you done about it? Cheers
__________________ Andy Owner of a sense of humour.  |
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31-01-2007, 20:43
| #2 |
| Crossdresser  Join Date: Apr 2003 Location: fast lane
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| Re: Contracting out..to stay or not? Yup, had the form a while back. My advisor told me the opposite actually, and as such I'm still contracted out. Let's face it, state pensions are a thing of the past. |
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31-01-2007, 20:57
| #3 | |
| Briskodian  Join Date: Oct 2003 Location: Hertfordshi-yer
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| Re: Contracting out..to stay or not? Quote:
 Surely since they charge a fixed %age of your fund's total value to manage your plan (and FSA rules aside) they would be encouraging you to opt out and so contribute more? | |
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31-01-2007, 21:30
| #4 |
| 500 Power  Join Date: Mar 2004 Location: Kent
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| Re: Contracting out..to stay or not? Get professional financial advice. Pensions arfe complex enough.
__________________ Steve Man-Bag ? Girlie Car ? - You Decide ( I have - it's neither )   |
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31-01-2007, 22:49
| #5 |
| Briskodian Join Date: Feb 2003
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| Re: Contracting out..to stay or not? TBH Steve, I don't really trust it and am going to go on my instinct, which is to stay contracted out (of SERPS) as I am at the moment. Who knows what will happen with whichever colour of Government to reduce what will happen with them. So at least by staying as I am I know more or less what will my income, or at least where I am at that moment in time.
__________________ Andy Owner of a sense of humour. |
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31-01-2007, 22:50
| #6 | |
| Briskodian Join Date: Feb 2003
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| Re: Contracting out..to stay or not? Quote:
You mean do less for the same money? My thoughts exactly.
__________________ Andy Owner of a sense of humour. | |
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31-01-2007, 23:51
| #7 | |
| Go 4X4 it  Join Date: Sep 2006 Location: RH Front seat :)
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| Re: Contracting out..to stay or not? Quote:
This is the advice I was given by my personal pension provider yesterday, so will be contracting back in as of April 5th. .
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