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Personal Equity Plan - PEP’s

What Are PEP’s?

PEP’s were financial products that allowed people to benefit from stock market related investments without paying income tax or capital gains tax on them. They were later replaced by ISA’s.

Their popularity coincided with a boom in the stock market, so whilst they were risky products, people saw good returns on their investments.

Unfortunately, they were sold to people who were not suitable for this type of investment.

How were PEP’s mis-sold?

All investments carry an element of risk, but investments that are deemed HIGH RISK are only suitable for certain investors that meet a risk profile criterion.

At the point of sale, the Financial Adviser or Bank or Building Society has a duty to explain:

  • The risks involved with a Personal Equity Plan
  • The potential for losses
  • How the PEP works – clearly so you understood it
  • Other investment options available to you
  • Also, your personal circumstances such as health, age and needs are to be considered, as well as your attitude to risk – are you a cautious investor or can you afford to take a risk?

If this wasn’t the case you may have been mis-sold your investment.

Key Facts

1
PEPs are amongst the most common investments mis-sold to people by banks, building societies and advisers

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