Is my pension protected?

If an independent financial adviser recommends you move your pension to get a higher reward, it can be very tempting. But what if they don’t tell you about the risks and you end up losing your entire pension because of their bad advice?

FSCS protects pension advice so we can pay you compensation if this happens to you and your adviser fails. You might not get your whole pension back but you could claim back enough to make a big difference. Before you take out any kind of pension, find out if your money is FSCS protected. We can only protect you if the FCA authorises your adviser.

How can I check if my pension is FSCS protected?

If your pension provider or financial adviser goes out of business, we may be able to step in and pay compensation. But FSCS protection varies depending on the type of pension product, and there are limits to the amount we can compensate.