Armed Forces Pension Transfer Claims
DID YOU TRANSFER YOUR PENSION?
You could be owed hundreds of thousand of pounds.
Please complete our contact form or call us on 01925 859625 to speak to a financial mis-selling specialist today and find out we can help you.
If you transferred out of your British Armed Forces pension scheme you could be due compensation.
Mr M
Sum awarded - £50,000
Mr M transferred out of his final salary pension on the advice of an IFA in 2010 and in 2019 was awarded £50,000 for poor pension planning advice.
Mr G
Sum awarded - £185,000
Mr G, a former coal miner, transferred out of his final salary pension in 1989 and in 2015 was awarded £185,000 for mis-sold transfer advice.
Mr D
Sum awarded - £110,559
Mr D, a former NHS employee, transferred out of his final salary pension in 2011 and in 2013 was awarded £110,559 for poor pension advice.
Mr W
Sum awarded - £108,780
Mr W, was advised to transfer out of his final salary pension in 2011 and in 2020 was awarded £108,780 for poor pension advice.
Mrs W
Sum awarded - £50,000
Mrs W transferred out of his final salary pension on the advice of an IFA in 2011 and in 2015 was awarded £50,000 for poor mis-sold financial advice.
Mr A
Sum awarded - £303,000
Mr A, a former British Gas employee, transferred out of his final salary pension in 1991 and in 2020 was awarded £303,000 for poor pension transfer advice.
If you were a member of the Armed Forces pension scheme and have since transferred to a private pension following professional pension advice, there is a chance that you could be due compensation.
In recognition of the sacrifice the pension holder has made for our nation, the Armed Forces pension is one of the most generous in the UK. According to a report on a sample of the pension transfer industry, the Financial Conduct Authority found that just 48.1% of people that transferred their final salary pension had been correctly advised. So, even if it feels like you haven’t lost out financially since transferring, you are more likely than not to have made a loss.
Even if it feels like you haven’t made a loss at all since moving your Armed Forces pension, it is still possible that you have!
Money and Me Solicitors can assist you in finding out whether you have received poor advice and help you receive compensation for your financial losses.
Please complete the form above or call us on 01925 859625.
Pension transfer advice was offered by a number of IFAs and companies, including:
“So even if your transfer was carried out by a large, well known company, you may still have been a victim of financial mis-selling and could still be due compensation.”
Find out whether you can make a claim for compensation.
How much could you claim?
Compensation is payable for losses incurred which may have resulted simply by transferring your final salary pension or if your fund was invested in inappropriate investments.
There may be a number of parties against whom a claim can be made arising out of the whole circumstances surrounding your Pension Transfer.
| If the firm that advised you to transfer your defined benefit pension went bust before 1/4/19 | maximum pay-out from the Financial Services Compensation Scheme would be £50,000 |
| If the firm that advised you to transfer went bust after 1/4/19 | maximum pay-out from the Financial Services Compensation Scheme would be £85,000. |
| If the firm that advised you is still trading, but they reject your complaint | maximum compensation the Financial Ombudsman Service would compel the firm to pay is £160,000, if you were advised before 1/4/19 and up to £360,000 if the advice to transfer was given after 1/4/19. |
However, if the company that advised you is still trading, and it upholds your complaint, agreeing to pay you compensation directly, there is no upper limit to the amount of compensation that can be awarded.
Should the matter proceed via court action and/or mediation and you are awarded compensation by a judge hearing the court case or during the mediation process then there is no upper limit on damages and compensation payable.