Planet Pensions S.R.O were previously known as Square Mile Financial Services S.R.O and were based in the Czech Republic.
Before the UK left the EU; Planet Pensions were able to offer certain products or services in the UK.
The company was liquidated in January 2021.
Clients have claimed that Planet Pensions gave them unsuitable advice regarding pension transfers. This included transfers into and from:
Planet Pensions also provided advice to customers to transfer into and from several other pension schemes.
The FSCS announced in an update that it is now accepting claims against Planet Pensions involving “advice in connection with pension transfers into and from The Forthplus SIPP and The Optimus Retirement Benefit Scheme.”
They will investigate whether claims against Planet Pensions are eligible for compensation under their rules.
They are also accepting claims against Planet Pensions involving transfers into and from other schemes.
As part of its’ investigation, the FSCS may require clients to first pursue a claim against connected firms still trading who may also be responsible for some, or all, of the customers’ losses.
If a regulated firm or adviser has given you bad advice regarding your SIPP, you may be able to claim compensation.
You may be able to complain against the SIPP provider if they haven’t exercised proper due diligence regarding the investments in their SIPPs.
If you’d like to know if the advice you received from Planet Pensions may have been mis-sold – our free assessment check can help!
Whilst each case is individual, we are mis-selling specialists so we know the signs to look for that may indicate that you’ve been mis-sold.
Our assessment is free and there’s absolutely no obligation to use our service if you have case.
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.