• Can you lose your pension? | Ep.80

  • Nov 13 2024
  • Length: 5 mins
  • Podcast

Can you lose your pension? | Ep.80

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  • Summary

  • Pensions are a valuable source of retirement income and, for many, represent a crucial part of their financial security. But how safe are they, really? In this episode, we explore whether pensions are as secure as they seem or if there’s a chance they could be lost, reduced, or altered under certain circumstances. From company bankruptcy to plan underfunding, we’ll break down the primary risks to pensions, discuss how protections like the Pension Benefit Guaranty Corporation (PBGC) work, and explain what factors can affect both public and private pension plans.

    We'll cover the specific scenarios that could impact pension value, including corporate insolvency, government plan changes, early retirement choices, and even personal situations like divorce. Additionally, we’ll touch on rare but impactful cases of mismanagement and fraud. Tune in to learn how to protect your pension and understand the factors that could influence its future.

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