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Thread: Serps???

  1. #1

    Serps???

    Anybody know anything about serps?? although I knew nothing about this , at some time in the 80s I opted out in favour of a sum of money to start up a private pension (which like many others has turned to poo). recently was sent a FB page stating that those who opted out of Serps could be entitled to some form of compensation, has any body applied or is this another scam????

  2. #2
    I'll get my wife to write a post for you, she works for a pension company. (Has done for the past 24 years) so she knows what she's talking about.

    George.

  3. #3
    It was common for folk to contract out of the government state pension scheme SERPS and in return you would receive rebates into a pension arrangement which would provide the equivalent or better pension than you would have received from the government. If you have been contacted by a company saying that they would get you compensation I would be careful- loads of scams regarding pensions just now. The only way you would get compensated would be if you had received bad advice from a financial adviser which I don't think you would have done on contracting out. SERPS is poo as well so don't think you would be a rich pensioner if you had stayed contracted in!

  4. #4
    Quote Originally Posted by Mauser243 View Post
    It was common for folk to contract out of the government state pension scheme SERPS and in return you would receive rebates into a pension arrangement which would provide the equivalent or better pension than you would have received from the government. If you have been contacted by a company saying that they would get you compensation I would be careful- loads of scams regarding pensions just now. The only way you would get compensated would be if you had received bad advice from a financial adviser which I don't think you would have done on contracting out. SERPS is poo as well so don't think you would be a rich pensioner if you had stayed contracted in!
    Thanks for that Mrs Mauser.....

  5. #5
    Yes the compensation would come as a result of a financial adviser giving you bad advice. If you read about it and ticked the box yourself then you could probably sue yourself, but that's probably not very helpful.

    I'm not sure how old you are but the way things are going you may well be pushing up the daisies before you get any of it anyway

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