What if my company goes into liquidation?

The assets of your pension plan are totally separate from the assets of the company. In most cases, if a company goes into liquidation, the company pension plan will be 'wound up'.The trustees of the pension plan are responsible for winding up the pension plan, according to the rules of the plan and current law.

You have a number of options that are similar to those available to you if you leave the company, but they do depend on the terms of the 'winding up'.

What does 'winding up' mean?

'Winding up' a pension scheme is the process of closing a pension scheme to new contributions and new members, and managing the rights and contributions of existing members, according to the rules of the scheme.