karen and andy

I have contracted out of UK SERPS, 15 years ago, and have had goverment contributions added to my pension, i.e. the money they would pay me at retirement. Therefore when we migrate to Austrailia I beleive I will cease to get these additions because I will not longer be paying NI.

Is it possible to take a pension with you and contract out of Australian SERPS, assuming that the pension company are worldwide?

Or will I have to take an indefinate contributions holiday on my existing pension. Then start a new pension in Australia.

Any ideas?

Andy and Karen

Paul and Steph

I don't know all the answers to your questions but would point out that your SERPS pension is additional to your state pension and as you have contracted out it is now a personal pension.

As far as I am aware it works on the basis that one payment a year is made into the pension based on the NI contributions made in tax year. If you cease to pay any NI it just means that you will not have any payment made that year.

hope this helps a little

Steph

shellypuss

Hiya,

We wondered about this too - we filled in a financial questionnaire from Alan Collett and they came back with a quote based on our requirements.

We both have contracted out pensions aswell as our own private ones.

Ask them to send you their financial questionnaire, if your not happy with the quote they provide you don't have to use them.

Hope this helps.

Shelly

sundarize

This is a burning question for me too.

I am one of the ones with an (un)Equitable Life, Henry, and I've made the decision to bale out, but to where. All the other life companies in Britain seem as bad. Can I transfer offshore?