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Simply meeting people’s financial needs

TUTMAN B&CE Contracted-out Pension

Did you know?

  • TUTMAN B&CE Contracted-out Pension is closed to new applications
  • If you still have one of these, it’s free to transfer out to another pension
  • The experience gained helped us create The People’s Pension

A pension scheme we provided from 1988, which is now closed to new applications

A pension scheme contracted out of the State Earnings Related Pension Scheme (SERPS) and later the State Second Pension (S2P).

We launched the TUTMAN B&CE Contracted-out Pension in 1988, specifically for the construction industry. Basically it allowed employed construction workers to get some of their employer’s and their own National Insurance tax payments contributed into their pension instead.

What if you still have one?

Your savings are still invested and accessible – you just might need to transfer them to another pension scheme or provider to take the option you want – such as The People’s Pension (which is also provided by B&CE).

Download our comparison table to compare TUTMAN B&CE Contracted-out Pension and The People’s Pension .pdf

Nowadays there are more ways to take your pension savings than ever, so you’ll be able to find a way that suits your needs…

Retirement options

To get the most from your pension when you retire – now more than ever – it pays to think ahead.