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How Do I Know If I Have Opted out of Serps?

Answer

If you opt out of SERPS (State Earnings Related Pensions Scheme), you should pay lower contributions for National Insurance. This means that, a rebate goes into a personal pension for rebate only. This will in turn translate to a bigger income pension when you retire.
1 Additional Answer
It is the state earnings related pension scheme. Anyone with a good company scheme where the employer stops making contributions if you opt out. And the APP is a private pension which comes with charges.
Q&A Related to "How Do I Know If I Have Opted out of Serps"
You can only be opted out if you contracted in to an employers or private pension scheme. If you did pay in to another pension scheme and no longer do so you can get in touch the
http://uk.answers.yahoo.com/question/index?qid=201...
When established (6 April 78) final salary schemes could opt-out of SERPS. In 1988 rules for opting out changed & money purchase schemes allowed opt-out
http://www.kgbanswers.co.uk/what-date-were-we-give...
Check the private pension - if the sum you've accumulated says 'protected rights' then this will be a rebate from your National Insurance Contributions, which would otherwise have
http://answers.yahoo.com/question/index?qid=201111...
It is generally advised now that you should opt back in. Visit www.fool.co.uk where you will be able to get specific advice on what it is best for you based on your particular circumstances
http://www.theanswerbank.co.uk/Business-and-Financ...
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