The Association of British Insurers (ABI) and the Association of Independent Financial Advisers (AIFA) have teamed up to provide more than six million pension policy holders with a new fact sheet as part of a further industry drive to educate consumers on the UK pensions system.
The three-page fact sheet entitled “Contracting out: it’s your choice” has been sent out by 40 life and pensions companies in an attempt to help people make an ‘informed choice’ about whether to stay contracted out or to rejoin the State Second Pension (S2P). Pensions minister, Malcolm Wicks welcomed the report saying: “It is important people have all the information they need to help them make the right decisions about retirement planning. This fact sheet presents a balanced view of the issues involved in contracting out." The new document highlights the need for customers to review t...
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