dannyblackpool

When i was in my last job i started a company pension and was given advice regarding opting out of the state pension and all contributions going into the company pension and advised it was worth doing as the goverment state pension was being scrapped so it would be throwing money away stayin in it. Ive since left there and just been told by someone clued up in money stuff that i should opt back in asap, although he said make sure with a financial adviser its the best thing to do, Fuck paying em to say yes or no, So..........

Am i best to stay out or opt back in the goverment state pension?????

Clare

Im no expert, but I did have intense training on Pensions a few years ago.

You really do need to speak to a Financial Advisor appointed by your work or bank if you are unsure.

The basics that I am aware of is wherever possible you should be part of a Company Pension scheme. If one is not available then defo a private scheme is worth setting up.

To rely purely on the government state pension is a hell of a gamble in this day and age.

Give your bank a call and ask to see one of their Advisors, they will talk you thru the options available to you.

mattbibs

for starters its spelt financial!! just incase you about to do an internet search!

dannyblackpool

Andy-R

Danny the majority of company pension schemes are contracted out of SERPS. Now called (State Second Pension (S2P)


best advise for should I 'contract out' has changed somewhat over the past few years the general rule of thumb is that Employed person's under the age of 40 earning over Ł4108 should consider opting out.

BIGBOF

Id invest in the royal bank of bof m8 i'l look after your money till you retire!!

dannyblackpool