Contracting out (Pensions) definition

What does Contracting out (Pensions) mean?

Up to 5 April 2016, the facility to opt out of the additional state pension and build up benefits in a workplace pension scheme.

Employees and employers of contracted-out schemes paid reduced NI contributions. Contracting out was abolished when the single tier state pension was introduced on 6 April 2016.

Discover our 2 Practice Notes on Contracting out (Pensions)

Contracting out (Pensions) is referenced 5 in Encyclopaedia of Forms and Precedents

Contracting out (Pensions) is referenced 1 in Halsbury's Laws of England

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