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MoneyWeek article - can you rely on your workplace pension?

Journalist: Marc Shoffman, Freelance

ended 11. May 2026

I am writing a piece for moneyweek about new Freedom of Information (FOI) data obtained by the experts at Liquidation Centre reveals that more than 5,100 employers collapsed with outstanding pension contributions in 2024/25 - nearly three times more than during the pandemic. 

The Foi found £40.2m in pension contributions estimated to be unpaid this financial year (2026/27)

Since 2020, a total of £140.5 million in defined contribution pensions has been put at risk due to employer insolvencies, an average of £23 million per year

While schemes like the Pension Protection Fund can step in, not all losses are fully recovered, meaning workers may still see reduced retirement incomes as companies fold.

I am looking for comments on how much people should rely on workplace schemes or if it is worth setting up your own private pension as well? 

What are your pension rights if your company collapses?

 

1 responses from the Newspage community

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Editor
Nouran Moustafa
Practice Principal & IFA at Roxton Wealth
Workplace pensions are a strong starting point, but they should not be treated as the whole retirement plan. Auto-enrolment has helped millions save, but minimum contributions are unlikely to give many people the retirement they actually want.

If an employer collapses, workers should check whether the pension contributions shown on their payslip were actually received by the pension provider. A payslip deduction is not the same as the money safely landing in the pension scheme. Employees should keep payslips, check statements, contact the provider, and raise missing payments with the insolvency practitioner or The Pensions Regulator.
I would never tell someone to ignore their workplace pension, especially where employer contributions are available, because that is part of their pay. But relying only on one workplace scheme and minimum contributions is risky. A private pension or savings can give people more control, flexibility and protection if they change jobs or want genuine choice