Security of Company of Pension Schemes

edited 30 November -1 at 1:00AM in Pensions, Annuities & Retirement Planning
2 replies 2.2K views
Legacy_userLegacy_user Forumite
0 Posts
MoneySaving Newbie
I have recently - 3 months ago - taken an voluntary early retirement pension. Simple question [I used to think!]. With all the talk of pension fund [fiunding] problems, is my company pension TOTALLY secure, now being in receipt of it, irrespective of the state of the stock market, or company? Could it ever be removed or reduced?
Mike

Replies

  • PalPal Forumite
    2.1K Posts
    ✭✭✭✭
    No it is not totally secure and it never has been.

    That said, as a pensioner you are safer than most members as you are given more protection should the fund fail, but you are not completely protected.

    Collapsing final salary schemes are very rare, but they are high profile when it happens, and they are going to get even rarer going forward with the new protections being put in place.

    Try not to let the worry ruin your retirement. ;D
  • MikeS_5MikeS_5 Forumite
    2 Posts
    Thanks Pal, not least for the promptness of your reply. I hope your optimism is well-founded; I shall try not to be too paranoid.
    They call me Mr Pig!
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