Is my pension safe?

You work hard to build up your pension, so it’s crucial to make sure your money is safe. Unfortunately, more and more people are coming to us with compensation claims after losing money from their pension.

Some people moved their occupational pension fund into a riskier self-invested personal pension and lost money when the provider went bust. Others lost money when a regulated adviser gave them inappropriate or misleading advice.

Before you take out any kind of pension, it’s essential to know if your money is FSCS protected. We can only protect you if the Financial Conduct Authority (FCA) has authorised your pension provider.

How can I check if my pension is 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.