The Lifetime SIPP Company Ltd

If you invested your pension into a Lifetime SIPP you may want to check if you should be claiming compensation for mis-selling

The Lifetime SIPP Company Ltd went into administration in 2018 following reports it had been unable to handle the volume of complaints made against them from unhappy investors seeking compensation.

Many of these complaints involved SIPP investors’ unsuitable exposure to high-risk investments such as:

Harlequin Property

Harlequin took around £400m in investments through UK Investors with the promise of guaranteed high returns from the luxury villas.

These returns unfortunately never transpired and in 2013 Lifetime were instructed by the regulator to write out to all their Harlequin investment clients and inform them that their investment had a nominal £1 value.

The FSCS is said to have paid nearly a £125m in compensation in relation to Harlequin. The complaints concern the suitability to invest in Harlequin and not the performance of the investment itself.

Lifetime SIPP Compensation Claims

The FSCS declared Lifetime in default in 2019, something it does when it decides a firm cannot meet their financial obligations to clients.

In June 2019 FSCS posted on its website that it was accepting claims against The Lifetime SIPP Company (Lifetime) and said the claims “… relate to the SIPP operators’ due diligence obligations when accepting customers’ investments.”

It also acknowledged “SIPP operator due diligence has been an industry ‘hot topic’ in recent years and FSCS is aware that there are a number of pending civil claims in the High Court against various SIPP operators in respect of alleged due diligence failings”

Hartley SAS purchased the “untainted” SIPP part of the business. Hartley Pensions entered administration on 29 July 2022.

Latest on Lifetime SIPP liquidation 

Lifetime SIPP is currently in liquidation with Moore Kingston Smith & Partners overseeing the process.

According to the latest liquidators report published in April 2023, the majority of creditors (which are consumers) have yet to either submit claims to the FSCS or complete the process of ‘evidencing their claim’ which would allow them to receive compensation.

The liquidators report said they are yet to receive claims from 3,229 creditors/consumers.

This may impact how long this process takes, and the liquidators said based on the current progress it would not be unreasonable to assume it could take a further two years.


Get an expert opinion with our free assessment check

If you want to know if your Lifetime SIPP may have been mis-sold to you – we can help!

Whilst each case is individual, as mis-selling specialists we know to look for certain signs that in our experience indicate that mis-selling may have happened.

Our assessment is free and there’s absolutely no obligation to use our service if you have case.

Key Facts

Lifetime had high-risk, unregulated investments such as The Resort Group & InvestUS in some SIPPs
Lifetime SIPPs also invested in “property scandal” Harlequin Property
Lifetime SIPP went into Administration in 2018

We win more than 9 out of 10 claims

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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.