Ask the trustees to provide you with the following
1) an up to date benefit statement
2) the amount of the current transfer value
3) a copy of the most recent scheme accounts
4) a copy of the most recent actuarial valuation
1) should show you what your current entitlement is and what you might get at retirement.
2) will give you a current value and you could ask your financial adviser to tell you if this value might be better invested elsewhere - (usually unlikely in the case of a good Final salary Scheme) - it should also tell you if the transfer value is in any way restricted - if it is scaled back this could indicate that the scheme is underfunded.
3) look at the accounts to see if contributions are being paid on time (in the auditors report) - also how the scheme investments are performing.
4) look at the actuarial report to see how well the scheme is funded - firstly on an ongoing basis (ideally it should be around 100%) - secondly on a discontinuance basis - unlikely to be 100% but the nearer it is to that the better.
If the actuarial report reveals the scheme to be underfunded the actuary will have advised how it might be dealt with - probably by recommmending increased contributions for a time - the trustees Report (in the accounts) should reveal what has been agreed with the employer in terms of funding contributions.
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