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Pension Switch

Claim back what’s rightfully yours

    • I agreed with the Financial Adviser, my pension should be working harder. My retirement should be as comfortable as possible. The Adviser impressed me, he was smart, straight talking and forward thinking. The chart and projections all made sense too. I signed up and agreed to invest with his firm.
    • After six months, the value of the investments began to shrink, the Financial Adviser told me, “Not to worry and its just a standard fluctuation in the market.” I wasn’t overly worried. By the end of the second year though, I started to get really concerned as I’d lost more than half the amount I’d invested.
    • I felt so frustrated, I was literally watching my money disappear! It all put an incredible strain on both me and my husband. It was an awful time.
    • When I searched online, I found other people talking about pension mis-selling and their stories sounded like mine.
    • I found the Adviser had actually broken many rules Financial Advisers are supposed to stick to. His firm contacted me via a cold call. The investments were too risky for my level of investment experience, I wasn’t given enough information on the investments. Reading on, I realised the Adviser had not acted with my best interests at heart. Don’t get me started on the charges.
    • “The more I looked into it, the more I realised just how many people who have been in a similar position were getting compensation I thought it would be far too much hassle. But, I spoke with Pension Claim Consulting and changed my mind instantly. I was told I’d have a strong case against the Financial Adviser – it was a classic case of a mis-sold pension investment. My advice to anyone in this position is simple: make a claim while you have time to.

3 Reasons To Choose Us:

1

We are 100% Pension Claims

2

Our fee is 15% plus VAT on the total monies awarded for a successful claim. There is no charge for an unsuccessful claim

3

We win more than 9 out of 10 complaints

The BAD news:

This scandal has cost pension savers BILLIONS of pounds.

The GOOD news:

Compensation payments are hitting record figures every year.

GET MIS-SOLD PENSION ADVICE

How many people have been affected by bad pension advice?

An FCA report in December 2018 stated that in less than 50 per cent of all Final Salary (Defined Benefit) pension transfers, advice given was not in the best interests of the consumer.

Finance experts believe only a small proportion of consumers who have been mis-sold to have made claims, but it is likely the total number is in the hundreds of thousands.

In many cases, mis-sold pensions have led to either a ‘significant’ or ‘complete losses of an individual’s pension funds say the Financial Conduct Authority.

Despite these high figures, there are still thousands of people who are unaware they have been affected by pension mis-selling and could miss out on compensation.

How many claims are made for pension compensation?

In 2018 SIPPs were the most complained about product against Financial Advisers with more than 3,000 complaints made to the Financial Ombudsman Service.

From April 2019 to March 2020, the Financial Services Compensation Scheme processed approximately 2,500* claims for mis-sold pensions and paid out £282m in compensation against 549 different firms.

The FSCS Annual Report 2019/20 quotes CEO Caroline Rainbird as referring to “an ever-growing number of claims against Self-Invested Personal Pension (SIPP) operators, which continues the rising trend of pensions-related claims”.

What’s the maximum amount of compensation for claims made through the Financial Ombudsman Service?

The Financial Ombudsman Service settle disputes between consumer and companies who are still trading. The maximum amount they can award for a successful claim is:

  • Up to £355,000 for complaints referred to The FOS on or after 1 April 2020 about acts or omissions by firms on or after 1 April 2019
  • Up to £350,000 if the complaint was made to the FOS between 1 April 2019 and 31 March 2020 about acts or omissions by firms on or after 1 April 2019
  • Up to £160,000 for complaints about acts or omissions by firms before 1 April 2019, and which are referred to The Financial Ombudsman Service after that date
  • Up to £150,000 for any complaints referred before 1 April 2019

What’s the maximum amount of compensation for claims made through the Financial Services Compensation Scheme?

The FSCS process claims against firms who have failed. The maximum amount they can award for a successful claim is:

  • Up to £85,000 if the firm failed after 1 April 2019
  • Up to £50,000 if the firm failed before 1 April 2019


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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.