# SERPS should I ?



## bikeit (Oct 24, 2010)

Hi looking some advise regarding my State earnings relation Pension.
I contracted out of SERP ten years ago should i contract back in or stay out?
I think don't it is called SERPS anymore they call it The state second pension.


----------



## Duke Wellington (Dec 1, 2009)

It depends on your current age. You should contact the Pension Provider that arranged your SERPS contract and ask them this question.

Ask them for their 'pivotal' age for your circumstances. Above this age it is generally deemed by the Pension Provider no longer financially advantageous for you to contract out.


----------



## rainifa (Mar 12, 2009)

Contracting out of SERPS (or S2P as it is know known) using a personal pension will not be an option after 2012. I would stay as you are so at least you can see the money in your pension for the next two years, and then you won't have a choice anyway.


----------



## bikeit (Oct 24, 2010)

Duke i am 45, i contacted my Pension provider but they said that they could not offer me any advise regarding this and i would need to contact a financial advisor. :wall:


----------



## shine247 (Mar 1, 2010)

I believe around a certain age it is suggested you contract back in. This is because the contributions you make from now on will not have such a long time to make much headway in the markets if any, where as serps is a "known" enitity. I believe is it around the age you are now. Please check on this but it is somewhere to start. There is a lot of info on the net. Good luck.


----------

