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

1
Lifetime had high-risk, unregulated investments such as The Resort Group & InvestUS in some SIPPs
2
Lifetime SIPPs also invested in “property scandal” Harlequin Property
3
Lifetime SIPP went into Administration in 2018

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
2024-03-08
Pension Claim Consulting Ltd ...have for me done a great job ...within the expected time scale ...Couldn't have asked for more
Phil C
2024-02-23
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
2024-02-07
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
2024-02-06
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
2024-02-05
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
2024-02-05
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
2024-01-16
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
2023-10-17
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
2023-10-17
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
2023-10-16
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.