Understanding Unpensionable Expenses in Retirement Planning

Unpensionable refers to something that cannot be pensioned or paid for out of a pension fund. In other words, it is an expense or a liability that cannot be covered by a pension plan.

For example, if an employee has an outstanding loan or debt that they are unable to pay off before retiring, the remaining balance may be considered unpensionable because it cannot be covered by their pension fund. Similarly, if an employee has a legal judgment against them or other financial obligations that they are unable to fulfill, these may also be considered unpensionable expenses.

In general, unpensionable expenses are those that are not eligible for coverage under a pension plan and must be paid out of the employee's own pocket. These expenses can include things like credit card debt, personal loans, legal judgments, and other financial obligations that are not covered by the pension plan.