Mis-sold Pensions

What is a Mis-sold Pension?

A mis-sold pension means that the advice you received regarding your pension was misleading or unsuitable.

This could be that you were advised to transfer your pension into a new pension scheme, but the investments in the new scheme are much riskier than you were told they would be.

Or you may have lost out on valuable benefits that your previous pension scheme offered, because of the advice you received to transfer your pension didn’t make you aware of this.

If the pension advice was not right for you and your personal circumstances this could be mis-selling.

Financial Advisers have a regulated duty to provide you with as much information as possible about products and make you aware of all the choices available to you, including staying in your current scheme.

So, it may also be mis-selling if the way you have been treated as a client has breached the rules that apply to regulated firms.

 

How can I check for pension mis-selling?

To check for pension mis-selling look at the details of your pension transfer, such as the quality of the advice you received, which companies were involved and what investments are you in.

Some pension mis-selling has hit the headlines so you may be able to see from searching the internet.

Most people who have been mis-sold their pensions will usually notice some unexpected losses to their pension fund.

If you have suffered a loss as the result of mis-sold pension advice you may be able to claim compensation.

If you’d like some help with this, we do provide a free initial assessment. We can tell you over the phone if we think you have a case. No obligation to use our service and we are more than happy to answer any questions you may have.

 

Below are some examples that may indicate you may have a mis-sold pension.

If you have experienced one or more of these, you should investigate further as you may be able to claim compensation for pension mis-selling.  

You should also be aware that there may be time limits to making a claim once you suspect you have been mis-sold.

Typical signs you may have been mis-sold your pension:

1

Costs and fees were not explained sufficiently

2

Funds were placed in unregulated high-risk investments you did not know about

3

The risks involved were not properly explained to you

4

Your attitude to risk or capacity for risk were not properly explored

5

Your personal circumstances were not duly considered

6

A ‘fact find’ exercise to determine your financial circumstances and retirement plans was not carried out adequately

7

You would have been better off with your existing pension plan

The three most common questions we get asked…

How do I start my claim?

Get in touch with our claims team and we will be able to discuss the best options for you moving forward. You can contact our office from 9 am to 5pm or email us at any time and we’ll get back to you as quickly as possible.

What are your fees?

We charge 18% inc VAT on the total monies awarded for a successful claim. There is no charge for unsuccessful claims. You can withdraw your claim at any time, although a cancellation fee may apply.

What is your success rate?

We win more than 9 out of 10 claims.

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.