Claiming Work Pension Compensation Due to a Final Salary Pension Transfer

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Many people, such as civil servants, railway workers, teachers, police officers, firefighters, NHS workers, those in the armed forces, or blue-chip companies may have been wrongly advised to transfer their pension into what is known as a ‘money purchase scheme’.

This type of scheme is often recommended to those whose final pension depends upon the number of years they’ve served and their final salary.

However, those who have been encouraged by a financial advisor or pension provider to transfer their money out of a final salary scheme may have been wrongly advised. Anyone who has suffered the occurrence of a mis-sold final salary pension could be entitled to up to £150,000 in work pension compensation.

Here at Pension Justice, our team of financial experts are highly experienced in pursuing a range of claims, including claims for work pension compensation due to a mis-sold final salary pension transfer. We have helped many individuals and families to gain the legal support they need to deal with a financial loss that was no fault of their own.


The Pension Justice team member working on a claim for a Mis sold final salary pension compensation


Are you entitled to mis-sold final salary pension compensation?


How do you identify if you have been mis-sold a pension and are entitled to compensation? Is one or more of the following true in your case:


Unsuitable advice

Did a financial advisor recommend a final salary pension (or defined benefit pension scheme) transfer without taking into account your individual circumstances, such as your health, age, or financial goals? If this is the case, they may have provided unsuitable, or negligent financial advice.

Hidden fees and charges

Were you properly informed about the fees and charges related to a pension transfer, including any associated with a personal pension, and the potential effects that these fees can have on their future retirement income?

Such a lack of transparency and disclosure regarding fees can negatively impact clients and lead them to make unsuitable financial decisions. 

Pressure selling

Recent studies have shown that such high-pressure sales tactics have become increasingly prevalent in the financial services industry, particularly with regard to pension transfers. 

Were you urged to switch to alternative pension schemes without fully understanding the long-term financial implications of your decision?

Fortunately, regulatory bodies have begun to crack down on these unethical practices, imposing stricter guidelines and penalties on those found guilty of such malpractice. 

Inadequate disclosure

Were you aware of all the risks involved in transferring your workplace pension scheme?

Many have only discovered the true extent of the financial loss they have incurred after the fact, leading to feelings of anger and frustration.

Not considering tax implications

Financial advisors may fail to consider the tax implications of transferring out of a final salary pension scheme, such as the potential impact on the client’s annual allowance or lifetime allowance. This lack of consideration can result in clients making unsuitable decisions that may result in unnecessary tax charges.


We’ll help you every step of the way


From the moment you contact us, to the day we find a solution to your pension mis selling claim, our experts will be on hand to help you every step of the way. We have a highly experienced team at the ready, fighting to get you the justice you need, in the form of a financial settlement that recognises your entitlement to work pension compensation.

Whether you’ve been mis-sold a pension, high-risk investment or another financial product, we’ll do everything within our power to obtain compensation for any financial losses incurred. This extends to anyone who has suffered a mis-sold final salary pension, with our team happy to speak through the details of your case today.


A pension Justice team member working on a claim for workplace compensation


We offer a No Win, No Fee service


We’re passionate about offering our services to everyone who needs them, regardless of their financial situation. So, if the worry of a lack of funds is preventing you from picking up the phone to pursue a claim, you may be relieved to hear that we operate on a No Win, No Fee basis. This means you won’t have to pay us a penny unless your case is successful.

To discuss our range of No Win No Fee options with regard to claims for work pension compensation, including claims related to a mis-sold final salary pension, you can get in touch with us today to find out more about the legal and financial assistance we can offer.


How long does it take to claim?


Once you have contacted us, we will start the process of securing compensation on your behalf. We will first contact the firm that sold you the pension and explain the nature of your claim. The firm will then have eight weeks to respond to our initial contact.

If the firm fails to respond or rejects your claim, we will escalate the matter to the Financial Ombudsman Service (FOS). This is an independent organisation that investigates complaints about pension providers and can award compensation to those who have been mis-sold pensions.

Throughout the process, we will keep you fully informed and provide regular updates on the progress of your claim. We understand that dealing with a mis-sold pension can be stressful, and we aim to make the process as smooth and straightforward as possible.


We’ll take phone calls and paperwork off your hands


We know your time is precious to you, so the last thing you’ll want is to be spending hours on the phone or filling in complicated paperwork. This is why our team take charge of all the admin on your behalf. We do all the legwork for you, ensuring you minimal fuss, and the peace of mind of knowing an expert is handling all of the key elements of your case.

*Fee payable if case is not pursued at the client’s request.

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    Our pension services

    Transfer To A Self-Invested Personal Pension
    Non Standard investment & Personal Pension
    Mis-Sold Annuity

    Are you eligible for a claim?

    You may be able to claim if…
    • 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.

    Your case will be carefully assessed to determine the likelihood of a successful claim, and then we will choose the best route for you, be that through the courts, Financial Ombudsman Service (FOS), Pensions Ombudsman, or negotiation.

    Our expert pension litigation solicitors have extensive experience in pursuing mis-selling compensation claims and settling pension disputes. We are fully committed to achieving the best outcome for you.

    Start your claim today

      Your data is secure. we don’t sell your details. Read our full policy here. Terms and conditions apply.