Opted out of SERPS - compensation claim????????????

[Flumpybumpy]

I received a call froma company advising me that I may have been wrongly advised to opt out of SERPS when I started my private pension 12 yeras ago. He said that if I had been then I would be entitled to 'thousnads' in compensation ans for a small fee of £450 they would claim for me. I put the phone down and brushed it off as another 'trying to get your money' sales call.

I then saw an article in the newspaper that you can indeed claim back if you were wrongly advised.

Does anyone know anything about this??? Is it true??? If so, how do I go about finding out

Thanks

FB x

No i dont know anything about it, but i was advised to opt out to so would interested to know more....

I have tried looking on various websites but the whole pension SERPS thing just confuses me, hence why I am asking for help..........

FB x

news.bbc.co.uk/1/hi/business/1036982.stm
(can't do links!!). Have you contacted your IFA? I would imagine you would need to go to FSA as a first port of call to look into this?
From what I can gather if you contracted out of SERPS you got tax and NI breaks on your personal pension, but not everyone was made aware of the risks of contracting out to their state pension...
Hopefully someone will be able to make more sense of it than me!!