The majority of mineworker pensions in the UK are Defined Benefits pensions, such as Final Salary schemes. These are considered very valuable as pensions like these promise a guaranteed income in retirement.
These schemes are also safe, cost nothing to the scheme member and they are protected by the Pension Protection Fund up to 90% of their value. They also often come with death in service benefits, paying up to 50% of a pension to a spouse if the scheme member dies before drawing it.
While there are some rare circumstances where a Mineworker’s Pension transfer might be deemed suitable, many transfers will have been unsuitable, and down to the negligence of a Financial Adviser who may have left pension holders worse off.
We can look into the circumstances that lead to your Pension Transfer free of charge for you, you will only pay a fee if we are successful in helping you win compensation.