If you're employed you can normally contract out of State Second Pension. One option is to contract out using a Personal Pension, Stakeholder Pension or a Money Purchase Occupational Scheme. This means that you give up your right to benefit from State Second Pension for the period you are contracted out. As a result, your State Second Pension benefit will be reduced. In return, the Inland Revenue sends your selected pension provider a rebate of part of your own and your employer's National Insurance contributions. These are invested in your plan and the fund that this produces is called Protected Rights. There are special rules about the benefits you can get from Protected Rights and when they can be taken e.g. you cannot usually take your Protected Rights benefits before age 60.

Mercier Allen and Associates Limited (Registered Office: 43-44 Carfax, Horsham, West Sussex RH12 1EQ; Registered in England and Wales Number 5440169) is a trading name of Mercier Allen and Associates Limited an appointed representative of The On-Line Partnership Limited which is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk). Mercier Allen and Associates Limited is a Limited Company.

We give our clients the opportunity to pay us a fee if they wish; our normal fee is £250.

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This web site is designed to provide you with general information only and does not attempt to give you advice on any particular area or to recommend any particular product to you. The information in this web site is targeted at UK customers only.
INVESTMENT PROPERTY PURCHASE (BUY-TO-LET MORTGAGES) ARE NOT REGULATED BY THE FINANCIAL SERVICES AUTHORITY.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
THE VALUE OF THE MONEY YOU INVEST CAN GO DOWN AS WELL AS UP AND YOU MAY GET BACK LESS THAN YOU INVESTED.

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