More incentive needed to opt out of state pension

State second pensions (S2P) are on course to replace Serps as of 6 April 2002, but product providers believe there will be no more incentive for people to contract out than there is under Serps, writes Kira Nickerson. In the DSS's regulations on the rebates for S2P, the Government did not heed the bulk of responses from its consultation process, according to Stewart Ritchie, pensions director at Scottish Equitable. He said: "The bulk of replies the Government received to the consultation, which started in September last year, was that it was not building in sufficient inducement for p...