I bet this hurt.

My old man had a final salary Carillion pension, but with them going under he only gets compensation on that now, so ruined any plans he had. Luckily he had other investments to hedge that, but complete joke.
 
mattyfez said:
I think we'll be seeing a lot more of this in the futrure, a pension is an investment like any other. You may lose or win...
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Way less likely now as there are very few "active" schemes that would qualify under PPF rules. DB (defined benefit schemes) are seen less and less these days. There are still a lot out there but are much more heavily regulated now a days, unlikely 20/25/30 years ago where the employer could dip in and out of the scheme to help themselves. Much like Mr Maxwell did etc.....

Most companies now operate under DC (defined contribution schemes) and therefore do not qualify or have any relevance to the PPF.

It's a problem that should be less common as time goes on.
 
DXP55 said:
the wife has suffered pension cut due to schemes going under and also bad investment so I can understand his pain.

www.dailymail.co.uk

Why hasn't my £22k pension increased after PPF cap was ruled unlawful?

The lifeboat fund has abolished the cap on larger pensions and is paying compensation, but my old scheme's obligations were transferred to an insurer so I'm missing out.
www.dailymail.co.uk www.dailymail.co.uk
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to be fair - it's very well explained in the article by Steve Webb as to why that particular situation has occurred.
 
Semple said:
They don't just "disappear" though. There's many reasons a lot of these schemes end up short.
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yes, one of the key reasons being embezzling little weasels playing really loose with peoples money and lives knowing that either way they still get paid while the mugs they pretend to help get bent over without even getting the courtesy of a reach around
 
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