Private Pension COntributions

I have a pension with Standard Life and was looking through the list of contributions and due at the begining of the tax year there was a "NICO" contribution.

Anyone care to explain what this means?

TIA

Reply to
elziko
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It means that your fund received a contribution from the National Insurance Contributions Office in Newcastle; you would normally find this happening annually if you are contracted out of the Second State Pension (was SERPS) using this pension scheme.

Matti

Reply to
Matti Lamprhey

"elziko" wrote

Did you contract-out of the state scheme ?

Reply to
Tim

National Insurance Contributions Office. It's the SERPS contracted-out rebate.

Rob Graham

Reply to
Robin Graham

I guess so! It was set up by my company and I don't remember discussing it with them. But this was a while a go and all very new to me at the time so it may have just passed me by.

Reply to
elziko

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