Over the years a number of clients have contracted out of what was known as SERPS. More recently this has been known as the state second pension.
As of April 2012 this practice is being abolished. Clients need do nothing after this date since the changes will be automatic. There are a number of implications for clients – especially those that want to retire pre state pension.
Clients that have existing opted out of SERPS money may wish to consider their investment options with this money. In many cases this fund has become a significant asset – we have seen funds in excess of £50,000.
IF YOU WOULD LIKE ADVICE ON THIS ISSUE PLEASE CONTACT US ON 0871 271 1280 OR E-MAIL nigel@reevesifa.com
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