Many thousands of people in the UK have been given pension transfer advice to leave a final salary scheme/workplace pension and to open a private pension or a SIPP. In many cases this was the worst possible advice. Those affected include civil servants, teachers, NHS workers, armed forces personnel, railway workers, firefighters and others who, as a result of the advice, have lost extremely valuable benefits that they would have been entitled to had they remained in the pension scheme operated by their employer.
If a person in a final salary/workplace pension scheme has been advised to move their pension then it is possible that there will be a claim for mis-sold pension transfer compensation.
How Can I Tell if I’m Entitled to Pension Transfer Compensation?
If you believe that you are a victim of bad transfer advice it is imperative that you speak to an expert in pension compensation. Pension Justice is an organisation specialising in getting compensation for workers who have been mis-sold pension schemes, or have been wrongly advised. You can be entirely confident that if you have received bad pension transfer advice then the team at Pension Justice will be able to fully investigate this matter on your behalf and, if appropriate, obtain maximum mis-sold pension transfer compensation.
Another example of bad pension transfer advice is where a pension investor has been advised to transfer away from a private pension and to open a Self Invested Personal Pension Plan (SIPP) and to thereafter invest in unregulated, high risk and illiquid investments such as storage pods, ethical forestry, carbon credits, Chinese shares, overseas property etc etc. Advisors promoted SIPPs because SIPP companies were prepared to allow people to invest in questionable assets.
The promoters of the investments very often paid extremely high commission to the advisors. The advisors were therefore not acting in the interests of the pension investor but in their own self-interest.
If you believe that you may have been the victim of a mis-sold pension transfer, whether it be from a workplace pension scheme to a private pension or from a private pension to a SIPP you should investigate the matter further.
How can I make a claim for my pension transfer?
If you believe that you may have been the victim of a mis-sold pension transfer which has led to you losing money, and you wish to seek pension transfer compensation, you should not hesitate to contact Pension Justice to enable your claim to be fully investigated and to have the best possible chance of receiving maximum compensation. Pension Justice have a team of specialists, headed up by a senior Solicitor, whose sole focus is to obtain the maximum mis-sold pension transfer compensation in the shortly possible space of time.
How Do I Get in Touch with a Pension Transfer Compensation Expert?
Do not hesitate to contact us to discuss the pension transfer advice you received, and whether you may qualify for a pension transfer compensation claim. At Pension Justice, we have represented a large number of clients who have been advised to transfer their pension into SIPPs and away from their workplace pension scheme. Many of our clients who have been advised to open SIPPs have invested in completely unsuitable investments, such as storage pods, ethical forestry, carbon credits, Chinese shares, overseas property etc etc. Many of these investments were designed to fail and have, in fact, since failed resulting in total loss to the pension investor.
The consequences of bad pension transfer advice can be devastating when it becomes apparent that a person who has worked hard all of their life and has lost what is sometimes their only nest egg. Our specialists at Pension Justice offer the best possible advice in obtaining compensation for such losses.
If you are wondering “Can I make a claim for my pension transfer?” you should contact Pension Justice without delay. Pension Justice will investigate your claim under a “No Win No Fee” arrangement. We offer specialist advice and guidance to ensure that the entire claim process achieves the best possible outcome.
If you believe that you are a victim of pension mis-selling do not hesitate to contact us today. We have a team of friendly and knowledgeable specialists who are waiting to hear from you.
Here at Pension Justice, we are here to help with a range of pension compensation issues, including bad pension transfer advice that results in a pension transfer claim. Get in touch today and speak to one of our specialists to find out more about how we may be able to help.
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Are you eligible for a claim?
- You were advised to transfer away from a Final Salary Company Pension.
- Your new pension was not compared to a low cost stakeholder pension.
- You were advised to transfer to a Self-Invested Personal Pension (SIPP).
- You were placed into a high risk portfolio.
- You were not given annual reviews, ongoing support and projections.
- You were transferred away from a pension that had a higher tax free cash limit.
- You were charged ongoing servicing fees.