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Forthplus Pensions Limited now in administration

21 October 2021

SIPP operator Forthplus Pensions Ltd was placed into administration on 19 October 2021.

The directors of Forthplus decided to take this action following advice from joint administrators Leonard Curtis.

Why has Forthplus Pensions entered administration?

According to the FCA website the reason Forthplus has entered administration is because it was unable to meet “its regulatory capital adequacy requirements and the Board recognised it was no longer able to operate”

A large number of complaints at the Financial Ombudsman Service made by clients against Forthplus was a contributing factor.

 

Complaints Against Forthplus Pensions

Complaints made against Forthplus are in relation to the firms’ due diligence.

The FOS had reportedly issued several provisional assessments. These found that Forthplus had not undertaken adequate due diligence and therefore had not treated its customers fairly and reasonably.

Forthplus did not agree with those assessments and the ombudsman service was preparing to issue final decisions. Had the complaints been upheld and final decisions issued, further claims against Forthplus were expected.

 

Beware of SCAMS

The FCA has urged people to be alert to scams

“All customers should remain alert to the possibility of fraud. If you are a client of Forthplus and are cold called by someone claiming to be from Forthplus, Leonard Curtis Business Solutions Group or any other company claiming to be involved in the Forthplus administration, end the call administrators and contact the administrators.”

Cold Calls or any contact of the blue is a classic sign of a SCAM.

Need some help?

If you are concerned or have any questions about Forthplus Pensions Limited entering Administration – we are here to help.

We can also give you some free initial guidance if you think you may have a claim but aren’t sure.

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2022-03-08
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