Is the RTE pension at risk with the current financial situation in RTE

[Nenagh52]

My partner has some years of service with them from a while back and is concerned it will not survive the meltdown so is considering take the cash settlement figure now.
Thanks

 

[The Horseman]

My partner has some years of service with them from a while back and is concerned it will not survive the meltdown so is considering take the cash settlement figure now.
Thanks

(Assuming this is a db pension).

Technically the pension should not accessible to RTE as same is held by the trustees and not RTE.

There is a risk that future payments by RTE will not be made to fund the pension liability going forward.

Normally with dB pensions the risk of insufficient funding of the fund is the responsibility of RTE. They may however plead inability to pay and this would be likely in the current scenario.

 

[huskerdu]

You should clarify if it is a DB pension , they closed entry to the DB scheme a few decades ago . If it is DC, the funds are managed by Zurich so no connection at all with the RTE finances

 

[Dr Strangelove]

RTÉ staff are well connected and even in the worst of circumstances I suspect they’ll generate enough noise to get a bail-out.

 

[Dave Vanian]

Solid advice above. To translate pension industry jargon, DB = Defined Benefit pension. Usually requires ongoing funding by the employer to meet its promises. This could be at risk if the employer won't / can't pay anything more into it. If it's Defined Contribution (DC) then no fear. Your partner has a pot of money ringfenced with their name around it and the fortunes of RTE are irrelevant to it. Definitely worth clarifying which type it is.