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PENSION PRODUCTS
GENERAL
CONTRACTING-OUT
Contracting Out of S2P for the tax year 2008-2009 using Personal Pension or Stakeholder Plans (Group or Individual)
Mortgage Products
Legacy
Disclaimer
Pension Products
Contact
Protection Products
Investment Products
General
GENERAL CONTRACTING-OUT
Contracting Out of S2P for the tax year 2007-2008 using a Personal Pension or Stakeholder Plan (Group or individual)
For the 2008/09 rebate mailing we wrote direct to our contracted out clients (with a few exclusions such as 'gone aways') strongly recommending that they contract back in to S2P. The actual approach that we have taken for this year's mailing is:
- for males aged 54 and over and females aged 53 and over on 5 April 2008 (referred to as Pivotal members), we contracted them back into S2P automatically, unless they advise us not to. There was an opt-out form enclosed with our 'Pivotal' letters, which had to be completed and returned to us before 27 February 2009 if individuals wanted to remain contracted out. These letters were not sent out Recorded Delivery.
- for all others (non pivotal members), we sent out letters, suggesting that these individuals should consider contracting back in. We enclosed a partially completed form CA1543 plus a DWP addressed envelope, so that members could sign their CA1543 and send it direct to the DWP by the latest deadline of 3 April 2009.
Once again the letters have covered some additional information on contracting out and provide an FSA website address, to help all members make their decision. We did not write to FAs to tell them about the current annual mailing exercise. Details were communicated on the PruAdviser site and by the issue of a Fast News.
