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December 16, 2021

Forthplus SIPP sold to iPensions Group

The Administrators of Forthplus Pensions Limited have announced that they have successfully completed the sale of the Forthplus SIPP to iPensions.

iPensions Group Limited (iPG) will be the new operator and administrator.  The sale resulted in the transfer of all 2,500 customers’ SIPPs to iPensions.

The transfer was completed on 13 December 2021. It means customers who were members of the Forthplus SIPP are now part of the iPG range of self-invested personal pensions.

iPG has offices in Manchester but intends to retain the Forthplus Edinburgh administration team.

 

Complaints against Forthplus Pensions Ltd

Forthplus Pensions Ltd hit the headlines back in April 2021. Concerns that two overseas based companies, who had introduced business to them, may have given clients unsuitable transfer advice regarding their SIPPs.

They entered administration in October 2021 following a large number of complaints at the Financial Ombudsman Service (FOS).

Customers who have a complaint against Forthplus can now make their claim for compensation to the Financial Services Compensation Scheme (FSCS).

The FCSC has said it is accepting claims against Forthplus but is still establishing if protected claims against the firm exist.

There have also been claims made against authorised advisers who recommended unsuitable pension transfers into Forthplus SIPPs.

Important Information!

You are not required to use our services to pursue your claim. You can also seek further advice or shop around subject to any time limits within which a claim must be made.

It is possible for you to present the claim for free, either to the firm or person against whom you wish to complain or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.