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Berkeley Burke Compensation Hits £2m As Payouts Begin

21 September 2020

The amount of compensation the FSCS has paid out in respect of Berkeley Burke cases has now reached £2m.

According to reports, the FSCS have received over 1600 complaints regarding the failed SIPP provider and of the 90 that have been dealt with so far – 58 have proven successful.

Of these claims brought against Berkeley Burke, 1230 are related to pension advice and all of the successful claims so far relate to mis-sold SIPPS.

The lifeboat scheme started accepting claims in April, seven months after Berkeley Burke went into administration. 

According to reports at the time its’ Administrators had suggested that the “level of claims” the company faced had pushed it into administration.

Court Cases 

Berkeley Burke’s troubles began in 2014 when a complaint against them was upheld by the FOS for lack of due diligence in accepting an unregulated investment (AgroEnergey).

Challenging this decision transpired into a drawn out and expensive legal battle which resulted in a landmark ruling against them. They eventually withdrew their high court appeal in October 2019 due to lack of funds.  

They were also facing a further legal challenge as a group of unhappy investors took them to court for the losses they suffered as a result of the high-risk investments in their SIPPs. Berkeley Burke withdrew their defence at the last hour to focus on the unsuccessful FOS case above.

Increase in SIPP provider cases – are you one of them? 

Berkeley Burke are one of nine SIPP providers who have collapsed since 2018 opening the door for compensation claims to be considered by the FSCS. They are expecting an increase of 114% in decisions in the coming year.

If you’re worried you may have been mis-sold your  SIPP – talk to us. 

We offer a free telephone assessment to see if you have a case. There’s no obligation to use our service and we are more than happy to answer any questions you may have about making a claim.

Call 0114 2664216 or fill in form so we can call you at a time that suits. 

Robert Pemberton
2022-04-11
Antony Stroud
2022-04-08
Excellent company, would definitely use again, they never gave up
Junior Geener
2022-03-20
always kept you informed has to what was going on .I'd recommend pension claim to anybody
Ian Gaynor
2022-03-14
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
2022-03-11
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
2022-03-10
Keith Wilkins
2022-03-09
Very thorough and achieved the goal regarding compensation in full. Took a while but was worth the wait
Mark Holmes
2022-03-08
Excellent service. Great result.
michael dixon
2022-03-08
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
2022-03-08
Important Information!

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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.