There is very unlikely to be a surplus in any scheme that is wound up. If there were to be a surplus in a defined benefit (DB) pension scheme, it would be dealt with in accordance with the trust deed and rules.
This could include increases to member benefits. In certain circumstances, part of the surplus could be paid to the employer.
Note: This content is provided as general background information and should not be taken as legal advice or financial advice for your particular situation. Make sure to get individual advice on your case from your union, a source on our free help page or an independent financial advisor before taking any action.
What is WorkSmart?
A career coach that works for everyone.
Enjoy bite-sized activities delivered to you every week.
Equip yourself with essential skills to be the best you yet.
Get the guidance you need to stay focused and reach your goals.