What to Do If Your Company Pension Scheme Is Closed, Frozen or Wound Up

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What to Do If Your Company Pension Scheme Is Closed, Frozen or Wound Up

Saving for your retirement is increasingly important these days and with an aging population we can no longer afford to hope that the state pension will supply us with a satisfactory retirement income. Until recently company pension schemes have been the sensible way to save for retirement. By simply ticking a box when starting a job you can sign up and relax – your future is secure. Recently, however, there has been a worrying trend that has seen company pension schemes closing, being frozen or even being wound up. This is now even set to affect the once secure public sector. If any of these things has happened or does happen to your pension it is important to understand the implications and take action as soon as possible. As they say – time is money.

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