# Pension help



## alan hanson (May 21, 2008)

Right i know virtually nothing just that i joined the private pension scheme at work as did everyone else choose to put in the highest amount etc etc..... someone said to me yesterday that as i was part of a private pension i should be contracted out of the state/gouvernment one? meaning my NI should be slightly less? is this true or does it depend on the private pension. Its a big company and well known pension provider


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## alan hanson (May 21, 2008)

edit that payroll have cme back to me this minute and said our pension scheme is not a contracted out one what ever that means.


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## PaulN (Jan 17, 2008)

You used to be able to contract out, but i believe you cant now...... 

Basically you was in effect putting what was going into your State Pension into your actual Private pension..


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## S63 (Jan 5, 2007)

Be aware of the many changes coming into effect in 2015.


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## NiallSD (May 21, 2013)

can't contract out on your type of pension, you'd have to be in a defined benefits scheme


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## alan hanson (May 21, 2008)

will have a google ref changes. i only asked as someone mentioned it to me, i kinda put my faith in my payroll department to do the correct thing which i shouldnt really.


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## NiallSD (May 21, 2013)

The money advice service is a good place to start. But like I always say don't take financial advice from someone who is not a qualified financial adviser.


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