Thomas Cook Pensions FAQ
Is my pension protected?
If you are (or were) an employee of Thomas Cook, you will almost certainly have a pension scheme with them. Depending on when you worked for them you might be a member of more than one of their schemes. To find out which scheme you belong to check your paperwork (the annual statements you receive about your pension).
There are four Thomas Cook Defined Benefit (DB) Pension Schemes and one Defined Contribution (DC) Pension Scheme. See below for the difference between DB pension schemes and DC pension schemes.
DB schemes are also known as ‘final salary’ schemes and provide valuable benefits as they offer guaranteed pensions based on your salary and the number of years you have been member of the scheme.
The four Thomas Cook Defined Benefit (DB) Pension Schemes are shown below. All four schemes were closed to new contributions in 2011.
- Thomas Cook Pension Plan
- Inspirations Group Pension Scheme
- AT Mays Ltd Pension and Life Assurance Scheme
- Sun International (UK) Ltd Pension and Life Assurance Scheme
What happens to my DB Pension now that Thomas Cook has stopped trading?
It depends on the funding position of each scheme, but it seems likely that now the employer has gone into liquidation, the schemes are expected to enter into the Pension Protection Fund (PPF) assessment period.
What compensation will I receive from the Pension Protection Fund?
Members can feel reassured that their benefits should be protected to at least PPF levels and can check out the PPF’s page on this. Or they can call our helpline and speak to one of our independent pension experts who can help with this. Call us free on 0800 011 3797 or visit our “Ask us” page to send an email or live chat message.
What about if I am a member of the Defined Contribution (DC) Scheme. How secure is this?
DC pensions work in a different way to DB pensions. The contributions you and your employer pay into the pension are invested for you and the level of pension you receive when you retire depends on how much has been paid in and the level of investment growth you receive.
The good news is that if you are building up benefits in a DC pension scheme, the pension pot is owned by you and not the pension providers or your employer. Therefore even if your employer becomes insolvent (as in the case of Thomas Cook) your pension pot will be unaffected.
If you have already retired and have an annuity in payment, then the Financial Services Compensation Scheme (FSCS) will step in and cover 100% of any annuities in payment if your provider becomes insolvent.
Thomas Cook Pension Plan contact details:
Postal address is:
Thomas Cook Pension Plan, PO Box 545, Redhill, Surrey RH1 1YX.
Inspirations Group Pension Scheme:
Phone: 0345 074 4063.
AT Mays Ltd Pension and Life Assurance Scheme:
Phone numbers are 0141 2850119, 0141 2228531 or 0141 2850193 and the team mailbox is Angelasteam@mercer.com.
Sun International (UK) Ltd Pension and Life Assurance Scheme:
Phone number is (Mark Johnson) 07720070284 and the team mailbox is firstname.lastname@example.org.
If you would like to discuss your pension with us, please click here to see the different ways to contact us.