Would like to understand more about how a Defined Benefit (DB) pension scheme works, particularly in the event the company you work for declares insolvency. Does a member of such a scheme still get pension paid out in full?
If one’s pension in a DB scheme is protected (or not), would appreciate knowing why or why not.
f there’s any risk to DB pension payout due to company’s insolvency risk, it may help decide whether or not to stick it out for a few more years or leave earlier and get pension in full.
Thanks in advance for any insight from members knowledgeable on this.