Are You a Victim to Pension Mis-selling?

Pension advisers have strict codes of practice to follow. When providing pension advice it is important that the advice is suitable for the client. Even with these strict codes of practice, it is apparent that on many occasions, the clients received advice that was not suitable and therefore not right for the client.

You may have been a victim of poor financial advice if you were sold your pension unfairly, or were not made aware of better, more suitable options. You may have been mis-sold where:

  • You were not given all of the information required to make a properly informed decision.

 

  • The financial adviser did not consider your health and medical issues or failed to ask about your health.

 

  • You were recommended to take out a personal pension, but a savings ISA or company scheme would have given you a better deal.

 

  • You were not given the opportunity to look and ask around around for the best deal.

 

If any of the above statements apply to you, it is likely that you received unsuitable advice and could apply for mis-sold pension compensation with the help of our team.

How Much Mis-sold Pension

Compensation might you be entitled to?

The amount of compensation individuals could receive varies from case to case. As a result, the amount of compensation individuals have received so far has varied considerably.

 

Call us today on 02895 320 044 and one of our team members can assess your situation. If our team feels that you have a legitimate claim, you will be assigned to a specialist claims adviser who will handle your case from start to finish and provide you with an opportunity to ask questions throughout the process.

Mis-sold Self-Invested Personal Pension Schemes (SIPPs)

 

Self-Invested Personal Pension Schemes (SIPPs) are a type of personal pension that allows you to hold multiple products and investments. This means that you can manage your pension fund yourself, and have more control over where your money is invested.

Although SIPPs can on occasion be suitable for some individuals, a lot of unsuitable advice has been issued upon the introduction of SIPPs. SIPPs were specifically created to allow seasoned investors the opportunity to take more risks, and so should not have been recommended to the general public. As a result, many unsuspecting people lost much of their savings or pension funds as a result of being provided with unsuitable advice by advisers who took advantage of the SIPP characteristics of typically high fees and earning potential.

As a result of the high fees earned from SIPPs, many advisers persuaded savers to switch to SIPPs in order to gain high rates of commission. In some cases, financial advisers even encouraged clients to pay their savings into investments abroad which have subsequently dissolved. This meant that savers lost large amounts of money and in some cases retirees have even had to return to work as a result of not having enough pension remaining following investing in these high risk schemes.

If any of the above sounds familiar to you and you’re not sure what you should do next, get in touch with our Complaints SOS team who are equipped and ready to help.

Complaints SOS Limited is Authorised and Regulated by the Financial Conduct Authority. FCA number is 829742. Registered in Northern Ireland No. NI648039. Registered office 10 High Street, Holywood, BT18 9AZ.