Pension providers are organisations responsible for the arrangements and services of pension schemes.
They have many duties from delivering annual statements, releasing your pension income, to making sure they operate and administrate your pension arrangement in line with industry regulation.
Pension Providers have played a part in SIPP mis-selling, but it’s only in recent years that claims against them have been accepted.
There have been recent high court cases involving Berkeley Burke and Carey Pensions in which clients have successfully proven a lack of “due diligence”
Due diligence could apply to the investments within the SIPP, as well as how they accepted your business.
Since 2018 several SIPP operators have been declared in default by the FSCS as the result of claims brought against them.
SIPP Mis-selling is when someone has been sold a Self- Invested Personal Pension but it was actually not suitable for them.
Also, if the way in which the SIPP was sold was misleading or unfair that could also be mis-selling.
If an FCA authorised firm or individual involved with your SIPP has failed in their regulatory duty, and this has caused SIPP Mis-selling, you may be able to claim compensation for the losses incurred.
If you are worried about your SIPP transfer and would like to know more about mis-selling; arrange a no obligation chat with one of our team.
We can help establish if you may have been mis-sold and if you could claim compensation.START NOW
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.