former employer in liquidation - pension fund in deficit

[benny fitt]

What protection does a pensioner have if their former employer folds and the occupational pension scheme is underfunded

 

[Feemar5]

Underfunded pension DB schemes were fairly common in the last recession and most were converted to DC schemes resulting in a loss for people who were due to retire at that time. You should contact the administrators of the scheme and ask for your options.

 

[jpd]

The order of priority when a fund is wound up is existing pensioners, deferred pensioners and employees - in that order, I think

Is it a DC fund or a DB fund?

 

[JoeRoberts]

The order of priority when a fund is wound up is existing pensioners, deferred pensioners and employees - in that order, I think

Is it a DC fund or a DB fund?

Pensioners priority up to €12000 only. No increases. There is no differentiation between deferred and active members. They get treated the same.

Different rules apply when the employer is also insolvent ( assuming that is the case with the liquidation) - double insolvency.
The state gets involved in funding part of it if necessary.
Pensioners ( i.e. anyone with a pension in payment from the scheme fund) will still be covered 100% up to €12000/annum. Some other rules for how pension increases are treated.