Can you trust your pension scheme?
As pension funds hit the headlines once again with massive shortfalls across the UK there is concern amongst many pensioners and would-be pensioners about their future. Can their current employer pension scheme be trusted? Are they protected in any way for the future?
When the government has changed the regulations regarding pensions and pension protection over the last few years it is essential that professional advice is taken to ensure that you protect your future and family. The collapse of any pension fund is very much a last resort and while it cannot be totally ignored, the government would come under severe pressure to reimburse pensioners in this situation. Whether this would actually happen or not very much remains to be seen.
The pension situation in general in the UK is of concern for the current government and future governments of the country. Aside from employer schemes, many personal pension funds are also substantially underfunded as many people do not understand how much they will require for a comfortable living in the future. Again, it is essential that you review your pension arrangements on a regular basis and take professional advice to ensure your current and future situation is catered for.
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