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.

Robert Pemberton
Antony Stroud
Excellent company, would definitely use again, they never gave up
Junior Geener
always kept you informed has to what was going on .I'd recommend pension claim to anybody
Ian Gaynor
A thoroughly positive result and experience. In all honesty I didn't have much hope of any success following a truly dodgy pension investment. I spent years angry at myself then decided to let these guys have a go on my behalf. It took hardy any effort on my part and they kept me fully informed, then out of the blue I got a call saying they have won all my pension back plus more and within days it hit my account. Thrilled with their effort and professionalism. I dealt with a few different staff and all were informative, polite and helpful. I great end to a terrible situation. 100% genuine review and I cannot recommend them enough. Thank you.
Grace Anderson
Pension Claim Consulting were a Godsend. I was told about them by a friend who had also invested in a pension. They kept me informed on the progress of my claim with regular updates and answered my queries with patience and professionalism. There percentage for on behalf was also lower than expected. I can't thank them enough
adrian buck
Keith Wilkins
Very thorough and achieved the goal regarding compensation in full. Took a while but was worth the wait
Mark Holmes
Excellent service. Great result.
michael dixon
I was approached by Pension Claim Consulting after the company that was handle ing my SIPP had been investigated by the Financial Ombudsmen and informed me i had a case, with this information given to me i agreed to let them represent me in trying to reclaim my investment. All through the process i was informed of every step and on a regular basis even though it took many months the outcome was successful and i was reimbursed fully. This is a fantastic company to work with and dedicated staff who know their business. Many Thanks. Mike Dixon.
Roderick Turnbull
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.