L&G uses podcast to help contracting-out decisions

The insurer is also sending out a letter to all their contracted-out customers to ask them for their contracting-out decision for 2006/2007 tax year, and to point out if customers want to “maximise the pension they can expect to receive at State Pension Age, they are more likely to achieve this by contracting back in to S2P”. However, Legal & General point out although contracting-in might be more valuable, it highlights the flexibility of contracting out, as it allows members to build up their private pension which they can use to take tax free cash while also being able to retire earlie...