Independent Benefit Consultancy Limited

Did you receive pension transfer advice from Independent Benefit Consultancy Limited? If so, you may want to check if that advice was actually right for you or if you should start a claim for mis-selling.

Independent Benefit Consultancy Limited were a financial advice firm based in Glasgow, Scotland.

Established in 2010, they were active in advising people on pension transfers, in particular transfers from Defined Benefit (DB) Pensions, also known as Occupational Pension Scheme (OPS).

IBC Ltd also worked with around 60 other IFA partners who regularly introduced clients for DB transfer services.

Many clients were transferred into Prudential and invested in PruFunds.


Independent Benefit Consultancy Limited and FCA Restrictions

In October 2020, the FCA placed restrictions on the firm, which meant they must immediately cease:

1) advising on conversion or transfer of pension benefits; and

2) completing pipeline business in relation to the conversion or transfer of pension benefits

This came months after the Financial Ombudsman Service upheld a complaint in which they were ordered to compensate their client.

Pension Transfer Advice Complaint and Independent Benefit Consultancy Limited

The complaint, upheld by the FOS in June 2020, related to pension transfer advice Mr M had received from IBC Limited in 2016 to transfer his Occupational Pension Scheme (OPS) into a personal pension policy.

When reaching their final decision, the Ombudsman said

“I don’t think simply setting out the risk factors was enough. Despite what IBC Limited has said about its face-to-face discussions with Mr M, I’m not convinced he fully understood the value of his OPS benefits and the long-term consequences of giving up those virtually guaranteed benefits in favour of a personal pension which was subject to investment risk.”


What’s the latest on Independent Benefit Consultancy Limited?

Independent Benefit Consultancy are no longer trading and entered compulsory liquidation in April 2021.

If you received advice from IBC Ltd to transfer your pension, especially if it was an OPS or DB pension – you’d be wise to check the quality of that advice.

If the advice wasn’t suitable you may be able to claim compensation for mis-selling.


Want to know more about mis-sold pension advice?

If you are concerned that the advice you received – we offer a free initial consultation to help you check.

Whilst each case is individual, as mis-selling specialists we know to look for certain signs that in our experience indicate that mis-selling may have happened.

Our assessment is free and there’s absolutely no obligation to use our service if you have case.

See what our clients have to say about our service on Trustpilot.

Key Facts

In 2020 the FOS upheld a complaint against IBC Ltd relating to pension transfer advice and the FCA placed restrictions on the firm
Independent Benefit Consultancy are currently in liquidation

We win more than 9 out of 10 claims

The cost of our service is 15% + VAT on the total monies awarded for a successful claim. Our cost is also priced capped at one of the lowest rates.

Rodders Hewitt
Pension Claim Consulting Ltd ...have for me done a great job ...within the expected time scale ...Couldn't have asked for more
Phil C
Thank you to all at PCC. My claim was managed brilliantly and was successful. I can highly recommended their services. Thank you once again
Christopher Fraser
After identifying a concern regarding my pension, I sought advice from Pension Claim Consulting. The response and customer service was swift and amazing. The courtesy and care taken throughout the whole process was phenomenal. The consultant’s communication from start to finish filled me with confidence that PCC do exactly what they state and were on hand whenever required. The level of understanding, empathy for the frustrations, and patience is by far the best I’ve witnessed. I cannot thank PCC enough for their outstanding work ethic and dedication to customers/clients. If you have any concerns at all regarding your pension, then I would highly recommend that you get in touch with them.
Andy Yates
Fantastic service, so impressed with Pension Claims Consulting. None stop updates throughout and everyone who works there was so helpful and supportive in every way. Thank you so much for getting my pension back.
Robert Manningham
Pension Claim Consulting Ltd successfully won a case on my behalf following misguided advice I received in relation to my pension. They were most proactive in the process and kept me fully informed every step of the way. I have no hesitation in recommending their services.
Deanamo 84
Very professional, very thorough and very good at what they do. Always at the end of the phone or email for any questions at anytime throughout the process. I can’t recommend them enough.
Roger King
Pension Claim Consulting managed to reclaim some of my pension by constantly chasing the company that fraudulently took my money. I though that I had lost everything. I cannot thank them enough on recovering some of my pension back.
Susan Stringer
Excellent standard of service. The claim was protracted substantially by virtue of opponents trying hard to not accept any responsibility for their actions and not return the pension fund. PCC kept me fully informed throughout the process, obtained an excellent result for me.They also kept chasing the opponent when little action was taking place from them. The staff were always pleasant and helpful to deal with and very encouraging when I felt my claim was doomed to failure. I can not praise highly enough
Paul Wilshaw
Very professional and informative from the beginning of our 5 year relationship. They talked me through every step of the process with what to expect. I would recommend Pension Claim Consulting to anyone who wants an honest and professional service.
Bill Cass
Great team and they will get the best outcome they can always kept informed the process took a longtime not because of anything pension claims consulting did purely the pension sip provider playing games i would 110% recommend this company to pursue your claim without doubt best thing i have done they didn't give up on my claim even though I had given up on any good outcome however finally resolved and paid thank you pension claim consulting
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.