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Idle Banter For non SV and non bike related chat (and the odd bit of humour - but if any post isn't suitable it'll get deleted real quick). There's also a "U" rating so please respect this. Newbies can also say "hello" here too. |
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28-11-08, 02:47 PM
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#11 |
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Member
Mega Poster
Join Date: Jul 2003
Location: In the shadows to the left
Posts: 7,700
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Re: SERPS: Pensions
Ok, i get it so far, but what i dont understand is, is this sepertae from the state pension, so would i get an income from this as well as my 40 groats a week from the government, or would i just get an income from this alone?
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28-11-08, 02:52 PM
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#12 |
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Moderator
Mega Poster
Join Date: Jul 2003
Location: Nr Ruthin
Posts: 7,079
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Re: SERPS: Pensions
the State Second Pension aka S2P (used to be SERPS) is paid in addition to the basic state pension and in addition to any other pension arrangement you might have.
__________________
"Your Viffer sounds like it is raising hell! Spot on." - Witchery 17/4/08  Snow Plough Appreciation Society - Member #3 
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28-11-08, 03:11 PM
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#13 |
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Member
Mega Poster
Join Date: Mar 2005
Location: Llanwrtyd Wells Powys
Posts: 1,146
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Re: SERPS: Pensions
Opted out in the late 80's or early 90's as far as I remember. never been advised to go return though.
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28-11-08, 03:15 PM
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#14 |
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Guest
Posts: n/a
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Re: SERPS: Pensions
Well, you have the basic state that you will receive, then some additional parts then the S2P also added on top, for as many years as you are contracted out of S2P, those years S2P contribution allowances go into your (personal) pension instead of what you would get when getting your state pension. Thus your additional segments for your state pension would be smaller but your personal pension healthier.
EDIT: Basically what LP said but I forgot to press post quick reply 
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28-11-08, 03:19 PM
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#15 |
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Member
Mega Poster
Join Date: Mar 2004
Location: Not in Yorkshire. (Thank God)
Posts: 4,116
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Re: SERPS: Pensions
I had a forecast some yearsago that suggested I would get a full pension,and state second pension. I never realised so it was a pleasant surprise.
Plus of course I get my company pension. It appears I never "Opted Out". probably as a result of my Leyland motors pension from76-83 being "Opt Out" I then had to opt in when I left, pay what I owed etc. at that point I was very wary of getting stuck with non transferable pensions. I know the rules changed shortly after. But after leyland motors going bang, then leyland daf, then austin rover then rover etc. I cannot trace Nuffield pensions to find if I have any entitlement from them. My projected compnay pension is about £17,000/year. I sometimes wish I had joined it 10 years earlier
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Not Grumpy, opinionated. |
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28-11-08, 03:40 PM
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#16 |
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Guest
Posts: n/a
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Re: SERPS: Pensions
Because of Equitable, and because Wrekin Construction stitched me up, I think I'll be stacking shelves in Sainsbos till I'm 85. Beats keeping warm in the library
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28-11-08, 03:42 PM
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#17 | |
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Moderator
Mega Poster
Join Date: Jul 2003
Location: Nr Ruthin
Posts: 7,079
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Re: SERPS: Pensions
Quote:
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"Your Viffer sounds like it is raising hell! Spot on." - Witchery 17/4/08 Snow Plough Appreciation Society - Member #3
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