DAC Pensions

If you have a SIPP with DAC Pensions now’s the time to check if you should be claiming compensation.

DAC Pensions is a small SIPP provider, established in 2015 and previously known as Davies & Co SSAS Solutions Limited. It has been authorised by the FCA since 2017.

DAC Pensions was declared in default by the FSCS in March 2023.

Supervisory Notice

A Supervisory notice was published by the FCA in August 2021, in which they instructed DAC Pensions to write to clients and inform them that they had accepted business from two unauthorised introducer firms, without carrying out adequate due diligence.

Both of these unregulated introducer firms were located outside the UK, in Ireland and Cyprus and did not have the authority to provide pension advice in the UK.

This means these companies are not covered by the FOS or FSCS and clients have no recourse for the unsuitable advice given by them.

Unsuitable investments

Unsuitable investments is another issue for DAC clients, who were directed to invest in high-risk, illiquid ventures investments through a model portfolio operated by the Introducer firms.

DAC Pensions accepted over £20million of business from these introducers and 600 clients have been exposed to unsuitable investments that are also unregulated.

These include investments in overseas UCIS funds, which are non-standard assets and which the FCA have long since considered unsuitable for the average retail investor.

According to the FCA notice, funds based in Luxembourg have been subject to compulsory liquidation by the Luxembourg regulator and 3 further Cayman Island funds have been “delaying redemption requests” since December 2019.

This means clients are at risk of losing some, if not all, of their money.

What’s the latest on DAC Pensions?

DAC Pensions Ltd was placed into voluntary liquidation on 27 August 2021 and was declared in default by the FSCS on March 16th 2023. The FSCS are now processing claims against the firm.

What Can I do if I have a SIPP with DAC Pensions?

If you have a SIPP with DAC Pensions you may be able to make a claim against them.

Get in touch and let us assess your case, for free, to see if you need to be making a claim.

We are here to help and will be happy to answer any questions and concerns you may have.

Put your mind at rest and get an expert opinion on your DAC Pension SIPP today!

Key Facts

Accepted business from two unauthorised introducer firms, without carrying out adequate due diligence.
Clients have been exposed to unsuitable high-risk investments and are at risk of losing their money
DAC Pensions are now in liquidation and have been declared in default by the FSCS

We win more than 9 out of 10 claims

The cost of our service is 15% + VAT on the total monies awarded for a successful claim. Our cost is also priced capped at one of the lowest rates.

Rodders Hewitt
Pension Claim Consulting Ltd ...have for me done a great job ...within the expected time scale ...Couldn't have asked for more
Phil C
Thank you to all at PCC. My claim was managed brilliantly and was successful. I can highly recommended their services. Thank you once again
Christopher Fraser
After identifying a concern regarding my pension, I sought advice from Pension Claim Consulting. The response and customer service was swift and amazing. The courtesy and care taken throughout the whole process was phenomenal. The consultant’s communication from start to finish filled me with confidence that PCC do exactly what they state and were on hand whenever required. The level of understanding, empathy for the frustrations, and patience is by far the best I’ve witnessed. I cannot thank PCC enough for their outstanding work ethic and dedication to customers/clients. If you have any concerns at all regarding your pension, then I would highly recommend that you get in touch with them.
Andy Yates
Fantastic service, so impressed with Pension Claims Consulting. None stop updates throughout and everyone who works there was so helpful and supportive in every way. Thank you so much for getting my pension back.
Robert Manningham
Pension Claim Consulting Ltd successfully won a case on my behalf following misguided advice I received in relation to my pension. They were most proactive in the process and kept me fully informed every step of the way. I have no hesitation in recommending their services.
Deanamo 84
Very professional, very thorough and very good at what they do. Always at the end of the phone or email for any questions at anytime throughout the process. I can’t recommend them enough.
Roger King
Pension Claim Consulting managed to reclaim some of my pension by constantly chasing the company that fraudulently took my money. I though that I had lost everything. I cannot thank them enough on recovering some of my pension back.
Susan Stringer
Excellent standard of service. The claim was protracted substantially by virtue of opponents trying hard to not accept any responsibility for their actions and not return the pension fund. PCC kept me fully informed throughout the process, obtained an excellent result for me.They also kept chasing the opponent when little action was taking place from them. The staff were always pleasant and helpful to deal with and very encouraging when I felt my claim was doomed to failure. I can not praise highly enough
Paul Wilshaw
Very professional and informative from the beginning of our 5 year relationship. They talked me through every step of the process with what to expect. I would recommend Pension Claim Consulting to anyone who wants an honest and professional service.
Bill Cass
Great team and they will get the best outcome they can always kept informed the process took a longtime not because of anything pension claims consulting did purely the pension sip provider playing games i would 110% recommend this company to pursue your claim without doubt best thing i have done they didn't give up on my claim even though I had given up on any good outcome however finally resolved and paid thank you pension claim consulting
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.