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?

Search the FCA register using your pension provider’s firm reference number (FRN) for the most accurate results. Find the FRN in your paperwork or emails, or ask your provider if you can’t find it. If the FCA search results show the firm’s status as ‘authorised’, FSCS may be able to compensate you if this firm fails.

Pensions

Pensions

 

There are several different kinds of pension. How much compensation you could claim depends on how your pension is invested.

Annuity

If you’re drawing a set retirement income from an annuity, even if it has a savings element, and the firm fails.

  • 100% protected.

 

Investment

If your pension is held as an investment, we may be able to compensate you if you've a protected claim against a firm that's failed.

  • up to £85,000 per eligible person, per firm.

 

Cash

If your cash is held in a bank, building society or credit union and it fails.

  • up to £85,000 per eligible person, per firm.

 

Annuity

If you’re drawing a set retirement income from an annuity, even if it has a savings element, and the firm fails.

  • 100% protected.

 

Investment

If your pension is held as an investment, you could claim for misleading investment advice, poor investment management or misrepresentation if you’ve lost money as a result and the firm that advised you has since failed.

  • up to £50,000 per eligible person, per firm.

 

Cash

If your cash is held in a bank, building society or credit union and it fails.

  • up to £85,000 per eligible person, per firm.

 

Annuity

If you’re drawing a set retirement income from an annuity, even if it has a savings element, and the firm fails.

  • 100% protected.

 

Investment

If your pension is held as an investment, you could claim for misleading investment advice, poor investment management or misrepresentation if you’ve lost money as a result and the firm that advised you has since failed.

  • up to £50,000 per eligible person, per firm.

 

Cash

If your cash is held in a bank, building society or credit union and it fails.

  • up to £75,000 per eligible person, per firm.

 

Annuity

If you’re drawing a set retirement income from an annuity, even if it has a savings element, and the firm fails.

  • 100% protected.

 

Investment

If your pension is held as an investment, you could claim for misleading investment advice, poor investment management or misrepresentation if you’ve lost money as a result and the firm that advised you has since failed.

  • up to £50,000 per eligible person, per firm.

 

Cash

If your cash is held in a bank, building society or credit union and it fails.

  • up to £85,000 per eligible person, per firm.

 

Annuity

If you’re drawing a set retirement income from an annuity, even if it has a savings element, and the firm fails.

  • 90% protected.

 

Investment

If your pension is held as an investment, you could claim for misleading investment advice, poor investment management or misrepresentation if you’ve lost money as a result and the firm that advised you has since failed.

  • up to £50,000 per eligible person, per firm.

 

Cash

If your cash is held in a bank, building society or credit union and it fails.

  • up to £85,000 per eligible person, per firm.