BT Pension 27 August 2010 at 4:33PM edited 30 November -1 at 1:00AM in Pensions, Annuities & Retirement Planning 4 replies 778 views

jammell

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?

yelf

/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.

jammell

thanks for your prompt response. So if standard life went under would my money be safe?

Thanks again.

welda

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........

McKneff

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.