Prudential & Norwich Union are telling hundreds of thousands of policyholders that they will be better off opting back into the state second pension.
The Prudential have written to 500,000 clients, and are automatically contracting in men over 60 and women over 54.
The Norwich Union on the other hand, having written to 250,000 people, are leaving the decision up to the individuals, as most of their pension business is written through Independent Financial Advisers.
Our View
The decisions is very close. Should you be contracted in or out? Contact us for advice.
Learn more about contracting out in the State Pensions Centre in the Pensions Adviser.com.