"BHS was a classic £600m short" - true but in the interests of fairness, Green & family did eventually stump up in excess of £350m IIRC to reduce that.
There are quite a few people (myself included) who cashed in their pension in favour of a personal pension. I've made a couple of lucky investment decisions in the past month or so but I know a few who suddenly have significantly less in their pot than they did before Feb.
Some of the funds took a massive hit at the start due to the market volatility but have re-arranged their assets to reduce the risk of further falls. However this is also having the effect of making the upwards climb slower.
And the likelihood is that anyone who had pension investments over the past (say) 5 years has lost mainly the gains their pots had made over the period - which doesn't make it any easier but they are not destitute (usually).
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Pension proof future ? new
Pension proof future ? new