Did You Opt Out Of SERPS?

Have you lost money because of the way your SERPs has been managed?

We may be able to help you get £000s back in Missold SERPS Compensation.

Many people in the UK do not realise they could be entitled to make a claim for Missold SERPS Compensation for poor advice given by brokers and financial advisers.

If you are on the many thousands of people who opted out of SERPS, you could be due compensation.

Many of these people were given the advice to contract out of SERPS between 1 July 1988 and 5 April 1997.

A the time they contracted out they would have been above the ages of 45 for men and 40 for women. This is known as the ‘pivotal age.

If you are part of this group who have suffered financial loss due to incorrect pension advice, you may be eligible to make a claim for SERPS compensation and ClaimExperts.co.uk have the necessary experience and knowledge to assist.

What is SERPS?

SERPS is an acronym for State Earnings Related Pension Scheme and it is often called the additional state pension.

SERPS was a pension scheme operated by the government but it ceased running on 5th April 2002. It has since been replaced with the Second State Pension scheme.

This pension scheme was initially designed to increase the amount that would be paid upon retirement and would be in addition to the amount paid on basic state pension.

If you made a Class 1 National Insurance Contributions (NICs) at any time between 1978 and 2002 you have a SERPS entitlement.

At ClaimExperts.co.uk we specialise in advising and assisting victims claim SERPS compensation.

What Was “Contracting Out”?

‘Contracting out’ or ‘Opting out’ was a very popular process and the financial advisers who recommended their clients to do so received commission for a successful sign-up.

This meant that the individuals made contributions to a private pension scheme and reduced or eliminated entirely their entitlement to SERPS.

Many employers signed up their employees to this system as it resulted in paying less NI (National Insurance) contributions.

Opting out was initially only available to people who made contributions to final salary pension schemes. It 1998 it was then widened to money purchase schemes.

Unfortunately if you contracted out after March 1997, you will have no SERPS entitlement in relation to earnings after that point. If you contracted out before that, your entitlement will be reduced in line with the deduction and you could possibly qualify to apply for contracted out of SERPS compensation.

The Process for claiming Missold SERPS compensation

The process for claiming SERPS compensation can seem complicated. Allow us to deal with the stress and complexities and benefit from years of experience in achieving a ‘win’ for our clients.

The precess for reclaiming compensation is as follows.

We will initially look into and calculate your ‘surplus earnings’.

We do this by working out the difference between the lower and upper earnings limit for each of the tax years you were a SERPS member and opted-in. This ‘figure’ will rise until you reach the age of state retirement.

Your total earnings for each tax year between 1978 and 1988 will be divided by 4 and total earnings for each tax year between 1988 and 2002 will be divided by 5. We then add these two figures together.

The result calculated will then be divided by the number of tax years that passed between 1978/79 and the year in which you reached or will reach the age of state retirement.

The final figure calculated will show us how much you may be able to re-coup in compensation.

Why Work With ClaimsExperts.co.uk?

ClaimExperts.co.uk deals with all forms of pension and investment mis-selling and compensation, including SERPS mis-selling.

We are fully authorised and regulated by the Solicitors Regulation Authority.

We know that working out whether you have been affected by SERP mis-selling or incorrect pensions advice can be complex. Are are here to make the whole process for obtaining SERPS compensation that bit simpler.

Talk To Us About Your SERPS Compensation Claim Now

Complete our quick enquiry form by clicking this link. It should take less than a minute and you will then receive a no-obligation review of your SERPS pension scheme to see if you have a valid claim for compensation.

Talk To Us About Your SERPS Compensation Claim today.

Our initial assessments are FREE and they come without any obligations to continue.

After your assessment has taken place and if it looks like you can make a claim, you will then be given the option to do so on a no win-no fee basis.*