Remember that much vaunted "Flat Rate Pension" so beloved of our lords & masters?

[Sysman]

Wavey

Ho hum.

And you can bet your bottom $ that the amount you get back from the thieves in the pension industry won't match the amount you've lost from SERPS.

As things were an eon or two ago when SERPS came in they only had to match the state pension while you were still contributing. If you dropped out of that scheme that no longer applied of course.

Hands up those who were persuaded to opt out when joining a company pension scheme back in permie days. A scheme that belonged to a company that no longer exists, to boot.

Another niggling thing is that circa 1992/3 I signed up for a pension scheme, stopped it within the cooling off period but in 1994/5 found that the pension thieves were still claiming the opt out sum direct from the govt.

They really are thieves.

[vetran]

but ok I am not an expert but when you opt out of SERPS the extra money goes to your personal pension.

and this article mentions nothing about that

so you may get less than those that opt in from the state pension but your personal pension pot is a lot bigger?

or am I being dumb?

you of course get taxed on your personal pension until you are as poor as other pensioners or lose any benefit from the state pension.

[original PM]

but ok I am not an expert but when you opt out of SERPS the extra money goes to your personal pension.

and this article mentions nothing about that

so you may get less than those that opt in from the state pension but your personal pension pot is a lot bigger?

or am I being dumb?

[vetran]

surprise surprise all those advised by their pension firms to contract out will be stiffed.

[zeitghost]

Well it transpires that it's not quite as flat as you might expect.

Well there's a surprise then.

https://uk.finance.yahoo.com/news/fl...110513845.html