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Clarification of issues about abolition of contracting out of defined contribution pension schemes
From 6 April 2012, only pension schemes that contract out on a Defined Benefit (DB) basis, i.e. contracted-out salary related (COSR) schemes, will be able to contract out of the State Second Pension. Abolition of contracting-out applies only to schemes that are currently contracted out on a Defined Contribution (DC) basis, i.e. contracted-out money purchase [...]
