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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11551
Experience:  30 years as a practising solicitor.
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My very small pension is paid monthly into an ISA account. I

Resolved Question:

My very small pension is paid monthly into an ISA account. I try to leave it there for emergencies. However I understand that pension money is not covered by the Government's guarantee should my bank go bust. Can you tell me if that refers to this money? My own feeling is that once I have received it, it becomes cash spending money and therefore is no longer a pension pot. Am I right?
Submitted: 1 year ago.
Category: Scots Law
Expert:  JGM replied 1 year ago.

You are correct. Once a pension is paid it is treated as cash.

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