Decision need on Company Pension

Confused_Pete

I have been a member of my company pension for about 18 months. Given the current financial situation, I am concerned that a pension is not a safe place to have my money.
I understand that if I had savings with a bank the government would protect up to £35,000 of my money.
Does anyone know if this is the same with the money put into pensions?

dunstonh

Given the current financial situation, I am concerned that a pension is not a safe place to have my money.

Why?

I understand that if I had savings with a bank the government would protect up to £35,000 of my money.

Correct.

Does anyone know if this is the same with the money put into pensions?

No its not. Personal pensions are protected with far higher levels of protection. 100% of first £2000 and 90% of the rest with no upper limit. However, that is largely irrelevent as most pensions are unit linked and these are ring fenced.

If its a final salary pension scheme then it has a different level of protection but there is no investment involved.