Adviser  >  News  >  November 2009  >  Contracting Out of the State Second Pension (S2P)

Contracting Out of the State Second Pension (S2P)

Policyholder Mailings

Most of your clients will need advice to make sure they are on track to reach the level of income they would like when they retire and the best way to do this. Some may be unsure whether to remain contracted out with their pension policy or contract back into the State Second Pension (S2P). You may also want to take this opportunity to review their plans, taking into account the Government’s expected changes which may remove the option to contract out of the S2P from 2012.

We're doing everything we can to help our policyholders make informed decisions about whether they should contract back in or remain contracted out of the S2P. However, advice from you will be key to the decision they make.

How do I know if my clients are contracted out of the S2P?

If you have any Scottish Life clients who are currently contracted out of the S2P, you will receive an information letter from us at the end of November 2009. This letter will include a list of your clients who we will be writing to in December 2009. This list will also indicate the type of mailing pack they will receive.

Each customer mailing pack contains:

  1. A letter with an attached form to contract back in to the S2P
  2. The 'Money Made Clear' consumer guide published by the FSA
  3. An information leaflet. There are six types of leaflets which relate to their particular Scottish Life policy:

How do I get more information about the mailing or the S2P?

If you have any queries about the mailing or any general information on the S2P and contracting in/out please

  • call us on our Customer Helpline on 0845 60 50 050. Lines are open from 8am to 6pm, Monday to Friday.
  • or contact your usual Scottish Life contact.

For professional advisers only