FAQs

Is my pension safe?

CATEGORIES:

  • Members
  • Pension safety
  • General

If a Scheme was to start to ‘wind up’, the sponsoring employer/s would be required to pay enough money into the Scheme to enable the members’ benefits to be completely secured with an insurance company.

However, it may be that an employer would not be able to pay this full amount. Therefore, the Pension Protection Fund (PPF) might be able to take over the Scheme and pay compensation to members in circumstances where the ‘wind up’ occurs with a shortfall of assets to cover the liabilities of the scheme. Further information and guidance is available on the PPF website.