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Liberty SIPP declared in default by FSCS

28 January 2021

Liberty SIPP were placed in default this week, as the FSCS concluded its investigation into the failed pension provider.

The FSCS usually declares a company in default once they are satisfied there is at least one claim and that the company are unable (or unlikely to be able) to pay claims against it.

This change of status means claims against Liberty SIPP can now be assessed and processed by the FSCS.

Complaints against Liberty SIPP

According to reports the FSCS have received nearly 1700 complaints against Liberty SIPP who also traded as Liberty Pensions.

Most of these complaints are related to the high risk, non-standard investments held in the SIPPs and challenge Liberty’s due diligence in checking the investments were appropriate.

These investments include:

  • Ethical Forestry
  • Agro Energy
  • GAS Verdant.

Liberty went into administration in April 2020 as a result of the volume of claims already made against them. They sold their client bank to EBS Pensions, a subsidiary of the Embark group

Many SIPP investors moved their pension funds as the result of advice from a regulated financial adviser.

However, Liberty also accepted SIPP business from Avacade. An unregulated introducer company who reportedly cold called people to discuss transferring their pension.

Liberty SIPP clients who haven’t already checked if they have a case to claim compensation would be wise to do so now.

Need some help?

If you are worried  that Liberty SIPP are in default and if you have a claim – we may be able to help!

We offer a free telephone assessment to check if there’s a case.

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.

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.