These pensions are likely to see the most damaging results as coronavirus has drastically affected investments across the globe.

Fortunately, while the markets are unpredictable and often risky, certain amounts of investment failures are protected by the FSCS.

As it details: “Where an investment was held within a personal pension (e.g. a SIPP) or a Defined Contributions OPS, and the UK-regulated provider of the investment fails, FSCS may be able to pay compensation up to £85,000 per pension scheme member.

“Where the failed investment was held within a Defined Benefits OPS, the pension trustee(s) may be able to make a single claim for compensation of up to £85,000.”

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