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People with final salary pensions urged to make sure they are financially ready for retirement
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dailyrecord.co.uk
dailyrecord.co.ukPeople with final salary pensions are being encouraged to get ‘retirement ready’, as research indicates a lack of awareness could mean some end up missing out on the income they are owed.
The Pension Protection Fund (PPF) said the findings from its survey show an acute lack of understanding and engagement among some pension scheme members about their defined benefit (DB) pensions.
These final salary schemes are often described as ‘gold plated’ as they promise savers a certain level of income when they retire.
The PPF is funded by a levy charged to pension schemes and pays out compensation for lost pensions if an employer collapses.
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