Pension Compensation

[Seiko]

Hi,

Is there a compensation scheme in place in the event of a pension provider going bankrupt?

If not, what recourse does a pension plan holder have in the event of a liquidation?

I know the fund is separate entity from the company that manages it, but presumably if the company goes belly up then the fund has to wind up and distribute it's assets to the holders.

Thanks

Seiko

 

[Galway5]

From my understanding it would depend on the type of pension provider you have. Life assurance company or other?

I understand that Life assurance company pensions are covered by the investor compensation scheme http://www.investorcompensation.ie/index.php

This link is taken from the financial regulator website. I couldn't get it to work for me, but again from what I understand the compensation scheme covers only 90% of the invested amount up to €20k.

Hope this is of some help.