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30 Oct

What percentage of my pension will I get?

Members will get less than they would have received if their scheme had not gone into the PPF.​ If you have not yet retired you will receive 90 per cent of what your pension was worth when your employer went bust, subject to the cap. Your payment will be frozen, but it will be revalued in line with inflation each year from the date your employer went bust until your normal retirement age. Payments will begin when you reach your normal retirement age and will be increased each year, as above. 

Once in the PPF you cannot transfer out payments to another scheme. This means you aren’t able to consolidate all your pensions or use the pension freedoms from age 55. You cannot take your pension early. You have to wait until you reach your scheme’s normal retirement age. This is likely to be between ages 60 to 65, but will depend on the scheme rules.

Your pension scheme doesn’t automatically go into the PPF. It can take about a year to assess if the scheme is eligible.


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