Deferred DB Pension in underfunded scheme

[Coordinated]

I opted for a deferred DB pension on leaving a company after several decades service. The scheme is underfunded. Is my pension guaranteed? What happens if the scheme becomes insolvent? I understand that existing pensioners are protected but what is the pecking order as between active members and deferred members?

Thanks,

Coordinated.

 

[Guest126]

Hi Coordinated:

• Your pension is NOT guaranteed, you may get less than your 'Deferred Pension' if scheme wound up underfunded
• In terms of pecking order, Active Members and Deferred Pensioners are on an equal footing, both behind Pensioners and AVCs