5.6 Contract out of SERPS
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From April 2002 it has been an Inland Revenue requirement that all Stakeholder Pensions offer the facility to contract out of S2P.
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They contract out on Protected Rights basis (same conditions as
for personal pensions). For individual policies the NI rebate is
same as for personal pensions. For occupational arrangements the
NI rebate will be the much lower at the COMP rebate level
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