Are occupational pensions schemes guaranteed?

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3CC

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Hi,

With all the talk on the security of bank deposits at present, I have been trying to do a bit of research on the security of pensions held with the like of Quinn Life etc.

I have been struggling to come up with any useful information. Can anyone here comment. Does the government guarantee personal pensions? Does the customer own the underlying assets in a case where the insurance company is in trouble?

TIA...
 
dmkelly said:
Does the government guarantee personal pensions? Does the customer own the underlying assets in a case where the insurance company is in trouble?
Click to expand...

No and no.

That said, I understand that the level of solvency required by any insurance company trading in Ireland is higher than in most other countries and the Financial Regulator requires each company to report frequently on their solvency.

Not the same thing at all I know, but it might be of some comfort.
 
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