How safe is my pension?

leaskovski

leaskovski

leaskovski

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Joined
22 Oct 2004
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Berkland
Ok, with all the panic around the markets these days, I am a little concerned over what could potentially happen to my stakeholder pension. Currently I have one with L&G (which was at my old job) and now I am starting one with my new job which is with HBOS. Now I see that HBOS took a bit of a dive yesterday, so the question is, are stakeholder pensions at risk if the company managing it takes a hit?
 
Does it?

Does the Pension Protection Fund assist anyone with a pension scheme?
No. The Pension Protection Fund only protects members of certain UK based defined benefit pension schemes, and defined benefit elements of hybrid schemes. [see eligible schemes for more details]
Click to expand...

See that website only really mentions about pension funds provided by employers and not really generic StakeHolders which are ineffect private schemes?
 
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Stakeholder pensions were set up with exactly this scenario in mind. Neither your company nor the company managing the fund will take your money if they go bust.
 
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