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DB pension scheme failing

Watis
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DB pension scheme failing

#296005

Postby Watis » March 31st, 2020, 10:42 am

I haven't seen much about pension schemes since the Covid-19 pandemic hit.

I have a DB pension from a previous employment that I could take now but have chosen to defer.

If the pension scheme were to fail, would it be better for me if I had started drawing the pension before the failure date, or while it is still deferred?

And what statutory protections might be available for either scenario?

TIA,

Watis

DrBunsenHoneydew
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Re: DB pension scheme failing

#296021

Postby DrBunsenHoneydew » March 31st, 2020, 11:09 am

If you already over the normal scheme pension age you'll be 100% protected but increases are capped. See page 4 in this document https://www.ppf.co.uk/sites/default/fil ... n_fund.pdf

If you are under normal scheme age you'll be 90% protected but subject to an age-dependent pension cap https://www.ppf.co.uk/sites/default/fil ... 2019_4.pdf

Dod101
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Re: DB pension scheme failing

#296026

Postby Dod101 » March 31st, 2020, 11:17 am

It is time that those of us living off our dividends got some protection. Everyone else seems to have it. What is it that Bubblesofearth said? Accept responsibility for yourself?

(Said ever so slightly tongue in cheek, but nevertheless.........)

Dod


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