I would be due a Defined Benefit Pension if I work until age 65.
On my annual document it states the pension amount I would be due on reaching age 65, if I were to leave service now.
I am given to understand that if a person has retired that their pension is set for life, even if the business in question goes bust.
Can someone explain what the position would be regarding a Deferred DB pension? Is it safeguarded in any way or would it also go if the business went?
I'm finding it difficult to get an answer to this question so I'd be really grateful if one of you experts out there can help.
On my annual document it states the pension amount I would be due on reaching age 65, if I were to leave service now.
I am given to understand that if a person has retired that their pension is set for life, even if the business in question goes bust.
Can someone explain what the position would be regarding a Deferred DB pension? Is it safeguarded in any way or would it also go if the business went?
I'm finding it difficult to get an answer to this question so I'd be really grateful if one of you experts out there can help.