Changes

Over the last few years the Government has introduced a lot of major changes in company and private pensions.

Many are happening in 2006. Most of them affect only people who are not yet retired. And they will be of real interest only to younger people and the self employed.

From 1 July 2006 people in SERPS or a company scheme which is opted out of SERPS will be able to leave and join their own private pension plan instead.

The DWP will pay into the scheme the earnings related contributions that would have gone to the SERPS or their company scheme.

And they will get a 8% bonus paid in as well until April 2015. This option is not likely to be attractive to people in good final salary schemes or to older people.


Is this of interest - Effect On Social Security Benefits

or Pension Example

Effect On Social Security Benefits

/retirement/pensions/effect-on-social-security-benefits.php... see: Effect On Social Security Benefits