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Pension Theft
SMARTIES_2
Posts: 1 Newbie
I am concerned my company may use my pension to sure up their large debt this is a major FTSE 100 company whose shares have droped by a third in one day should I move my final salary pension
into my private stackholder pension just in case and what protection do I get from the goverment in case they use our pension money:eek:
Very concerned worker
into my private stackholder pension just in case and what protection do I get from the goverment in case they use our pension money:eek:
Very concerned worker
0
Comments
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Hi.
The company cannot do that. The money in the pension fund is held in trust separately from the company's accounts. They cannot move money from the pension fund into the company's account.I have worked for 5 years as a Pension Administrator and then a further year in a non-administrator pension role. I am not (and never have been) an adviser. Do not take anything I say as advice, it is information given on the best of my knowledge.0 -
Oh, have they changed the system since Maxwell?0
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yes they have.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Yes, they brought in lots of new governance rules for pensions precisely because of Maxwell.I have worked for 5 years as a Pension Administrator and then a further year in a non-administrator pension role. I am not (and never have been) an adviser. Do not take anything I say as advice, it is information given on the best of my knowledge.0
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