Contracting out: not justa numbers game

Clients could be forgiven for overlooking their state pension but they shouldn't miss out on a benefit paid for automatically through their National Insurance Contributions (NICs). Recent commentary from actuaries on the relative merits of contracting out of the Second State Pension (SP2) has generally given it the thumbs down, while insurance companies anxious to avoid yet another potential mis-selling scandal have rushed to contract clients back in. But this is not a simple number crunching exercise, as the actuarial consultants themselves admit. Nor should clients be intimidated by ...