Contracted out/in

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The terms 'contracted out' and 'contracted in' were applied to Occupational pension schemes in the UK in relation to the State Second Pension (S2P).

A UK pension scheme was 'contracted out' where it provided benefits in place of S2P and 'contracted in' where it provided benefits in addition.

With effect from 2016, contracting in/out ended with the introduction of the UK State Pension.

See also