company pension

belletinker

I am a pensioner and I received a company pension as well as the state pension If the company I worked for goes bust in this economic crisis will I still receive my company pension? A silly question to ask really but only just thought about it

MikeJones_2

If your company pension was a defined benefit scheme you will be protected in one of a number of ways. It is extremely unlikely, (in fact I'm struggling to think of a set of circumstances), that you would lose your pension if you have reaced your Normal Retirement Date and once it has commenced (i.e. is in payment).

If you took your pension before your Normal Retirement Date (perhaps through ill health or early retirement) your pension will still be protected but may not receive the same level of protection.

The Pension Protection Fund's website has a good section of Questions and Answers.

Let us know if your company pension was a money purchase scheme.

Mike Jones

I work in the field of Pension Education and Pension Guidance in the UK. I am a current member of the Specialist Pensions Forum as well as being a Voluntary Adviser for The Pensions Advisory Service. I work with scheme members, employers, trustees, scheme administrators and advisers on most things to do with employer sponsored pension schemes. The views expressed by me in this thread are my personal opinions. You should seek professional advice from an appropriately experienced and qualified adviser. I am not an IFA.