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you can look at consolidating your pots
I have three pensions I’m paying into. Is this really just a case of deciding where my money increases the most?
And at the risk of sounding dim, can someone explain the real life effect of what contracting out of serps means? At least one of my pensions is...
And at the risk of sounding dim, can someone explain the real life effect of what contracting out of serps means? At least one of my pensions is...
In the past part of your NI went to a private pension rather than towards State Pension.
Get a state pension forecast (online or form BR19), it will tell you the effect as you'll have a contracted out deduction. Depending on a number of factors you may still be able to get the full flat rate State Pension of £159pw (in today's money).
you can look at consolidating your potsI have three pensions I’m paying into. Is this really just a case of deciding where my money increases the most?
Or which has the lowest admin fees. Worth seeing what % each charge every year.
With most DC pensions, you can pick and choose the funds yourself, so in theory all three pensions could be making the same investments, in which case it just boils down to management fees.
@bike yes agreed, however those things can and will be determined by individual countries and not just the eu. Portugal is free to grant healthcare to residents as it sees fit.
@only understood, if you look at many (most) pension finds they follow a very formulaic strategy for investing, you can replicate that using low cost products like ETFs. I have become negative on pension restrictions and as we have seen in the past “pension pots” are an easy target for stealth taxes (both Brown and Osbourne took a pop at them)
And at the risk of sounding dim, can someone explain the real life effect of what contracting out of serps means? At least one of my pensions is...
Good question, can't say I fully understand it myself.
Loads of info online..