Contracted out pensions scheme ( COPE)

GornikDaze said:
Regarding your second paragraph - contracting out via personal pensions ended in 2012 (although some providers chose to end before that date). So your contracted out payments could have carried on until 2012, but in all likely hood could have stopped before this date.
All dates and explanation in the Aberdeen (stupidly rebranded as Abrdn!!!) article below:

Contracting out

Techzone explains what contracting out was, how it worked under different types of scheme and how the abolition of contracting out affects the rights that had been…
techzone.abrdn.com techzone.abrdn.com
Click to expand...
A lot of public sector ones gave you no option but to opt out, and that ended in 2016, but at least it is all in one place. Contributions went up from 2016 to make the difference, may have been 1%.
 
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GornikDaze said:
Regarding your second paragraph - contracting out via personal pensions ended in 2012 (although some providers chose to end before that date). So your contracted out payments could have carried on until 2012, but in all likely hood could have stopped before this date.
All dates and explanation in the Aberdeen (stupidly rebranded as Abrdn!!!) article below:

Contracting out

Techzone explains what contracting out was, how it worked under different types of scheme and how the abolition of contracting out affects the rights that had been…
techzone.abrdn.com techzone.abrdn.com
Click to expand...
Thanks for that link. I was trying to remember who I told to contract me out and then back in (think I contracted back in before it was stopped, around 2009 maybe) because I received some literature from my provider, or maybe an IFA I used to use, advising that it was better to contract back in. That link reminded me how it worked so think I know where all my contributions ended up.
 
flook said:
Legoland is pretty much nailed on there, the COPE figure is an estimate of what your contracted out amounts would return via the private pension into which they were paid. In my case my COPE was £18pw (less than £1k per year) When I tracked my pension down I found it will actually pay me over £4.5k per year from the age of 65, with a very small (1%) increase per annum from that point.

Well worth finding lost pensions, compound interest is king over 30 years or so
Click to expand...
Einstein called it the 8th wonder of the world ….
 
 
abu13 said:
I contracted out of Serps in the very early 90's, I knew it was invested somewhere but had lost track of it.

About 18 months ago i decided to track it down and found I had over £90k sat there.

Needless to say my retirement plans have been re thought.
Click to expand...

Brilliant, made up for you.
 
I have been getting letters of a insurance company last 4 years on my birthday any new tax year thought it was a scam because of this thread i rang them yesterday, just short of 24 grand,thank you you @Mancityphifo2000
 
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