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Government protected savings amount - Pension funds
Elderr
Posts: 4 Newbie
Hi,
I have two workplace pension funds with the same company (Fidelity). If the worst case happened and Fidelity crashed would I only be covered for £85k total or £85k per pension? Neither pension amounts to £85k yet but i was considering transferring in money from a 3rd pension fund (with another company) which given a couple more years investment would likely push the total invested amount above the £85k limit. Thanks.
I have two workplace pension funds with the same company (Fidelity). If the worst case happened and Fidelity crashed would I only be covered for £85k total or £85k per pension? Neither pension amounts to £85k yet but i was considering transferring in money from a 3rd pension fund (with another company) which given a couple more years investment would likely push the total invested amount above the £85k limit. Thanks.
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Comments
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Your investments are ringfenced. Fidelity crashing wouldn't make them worthless. Unless there was a momumental fraud.0
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We get similar questions on the forum every day . The risk of Fidelity or similar going bust is extremely small . They are not banks taking risks lending your money to people who might not pay it back. Your money is in the investments within the pension, not with Fidelity itself.0
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Pension funds get 100% FSCS protection with no upper limit. However, I suspect you are not using pension funds but UT/OEICs or ITs/ETFs.
It is the assets you invest in that matter.
e.g. Pension funds 100%., UT/OEICs £85k per fund house. ETFs/ITs/Shares - no FSCS protection.
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I think they are just straight pension funds. i have never heard of UI/OEIC/ETF/ITs but after a quick google i'm pretty confident i don't have those. I will now happily move my 3rd fund to combine it with my fidelity funds then. Thanks0
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I have a few Tesla cars. I think they are just straight normal cars. i have never heard of EV/CAV but after a quick google i'm pretty confident i don't have those.Elderr said:I think they are just straight pension funds. i have never heard of UI/OEIC/ETF/ITs but after a quick google i'm pretty confident i don't have those.
Are you sure about that?
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