BT Pension

edited 30 November -1 at 1:00AM in Pensions, Annuities & Retirement Planning
4 replies 778 views
jammelljammell Forumite
60 Posts
Part of the Furniture 10 Posts Combo Breaker
Hi there, I've been offered a job with BT and I can choose to be part of the pension scheme, if I pay 5% of my wage into a pension BT will put a further 8% into it.

However, if BT were to go bust, or have problems with the pension fund, would my money be protected?

Thanks for your help. =)

If you need any info let me know.

Or should I just stick to my ISA's, premium bonds and savings?

Replies

  • yelfyelf Forumite
    845 Posts
    /you would be joining the standard life defined contribution scheme, so you money would be held in underlying funds and so not be linked to BT's solvency.
  • jammelljammell Forumite
    60 Posts
    Part of the Furniture 10 Posts Combo Breaker
    thanks for your prompt response. So if standard life went under would my money be safe?

    Thanks again.
  • weldawelda Forumite
    600 Posts
    You're five % their eight %, has got to be a good deal, if Standard Life went pear shape, then the government would chuck billions at them to keep them afloat, thus making you sleep easy knowing the tax payer has come to the rescue........................again!!

    Cheers........
  • McKneffMcKneff Forumite
    38.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    ✭✭✭✭✭
    You'd be mad to turn this 8% down, it's free money,

    Would you turn an %8 rise in your salary, no thought not.

    Grab it with both hands, keep an eye on your pension but stop worrying so much about it.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
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