End of contracting out: how you can help

Millions of pension savers have an urgent decision to make – how do they replace the gap left by the withdrawal of the government’s contracted out rebates? Contracted out rebates paid to pension schemes from the government each year run into billions of pounds. But, since 5 April this year, contracting out on a defined contribution basis has been abolished, with the last rebates being paid by the government in June/July 2012. For many, the removal of contracting out will create a gap in their pension savings. What can you do to help? And, what is in it for you? Here are three areas to...