SERPS - should I opt back in?

[oobster]

I received a letter from the company who receives a payment from the government as part of my State Second Pension.

They want to know if I would like to contract back in again and to be honest I don't have a single clue about pensions.

I contracted out around 12 years ago and I am currently 38yrs old.

I know a car internet forum is not an ideal place to be asking for financial advice and I won't solely be basing my decision on advice given on this thread, but what kinds of things should I be looking at in order to assist me in deciding?

All help & advice appreciated.

Andy.

[cod man]

I am confused by this too. My understanding is that it is a complete guess as to what is best. Whatever calculations you do will probably become irrelevant when the government moves the goal posts in the future. So I have opted out on the basis that I don't trust the government to look after my extra pension pot. By the time I retire, the rules will probably be I have to work until i'm 80 and that any SERPS contributions have been re-directed to paying for the NHS or Winter road salt fund or something.

I am probably wrong though!

[Dibby]

Opted out too on the assumption that by the time I retire (in 36 years) there will be hardly any state pension and no set retirement age.

I'm working for my own retirement, taking care of myself, it's an "I'm alright Jack" attitude but I'm not working to prop up the lives of those who couldn't be bothered to do anything with their own lives to save for their own retirements. I'd opt out of the whole state pension scheme if I could and risk living off nothing if my life plans don't work out.