Read our Miner Workers case studies below.
Prior to forming Money and Me Solicitors Ltd (MMS) in 2020, Money and Me Claims Ltd (MMC) was founded by David Miller in 2009 and has since enjoyed an enviable track record in the pension claims sector, thanks to a success rate consistently above 95% for claims referred to the Financial Services Compensation Scheme and above 80% for claims referred to the Financial Ombudsmen Service.
Money and Me Solicitors Ltd (MMS) was formed as a result of David Miller joining forces with Damian Allison, who, having qualified as a Litigation Lawyer in 1994, brings a wealth of legal experience to the team. Building on the success and experience of David and Damian, Money and Me Solicitors aims to achieve similar, if not better results for its clients.
Below are just three Mine Worker case studies taken from thousands of successful cases that David and his team won with MMC.
In 1989, Mr Gill, an ex-mineworker acted on, what has now been proven to be unsuitable advice, and transferred his Mineworker Pension Scheme (MPS) into a Personal Pension arrangement with Friends Provident. The amount transferred was £27,324.08. Friends Provident became Friends Life in 2011, then was subsequently acquired by Aviva in 2015.
Initially, Aviva refused to accept that Mr Gill had been mis-advised, denying liability for his losses and therefore would not compensate him. However, in January 2019, after reviewing over 60 transactions and persistently liaising with all the necessary third parties for 3 years, MMC were delighted to receive an offer of £184,898.77 from Aviva. The award included an additional £2,000 goodwill gesture to compensate Mr Gill for the way Aviva had initially mishandled the case and the time it had taken them to conclude matters.
In 1989, Mr Smith, an ex-mineworker acted on, what has now been proven to be unsuitable advice, and transferred his Mineworker Pension Scheme (MPS) into a Personal Pension arrangement with Scottish Friendly. The amount transferred was £2,628.98 and by June 2021 the value of the Scottish Friendly pension had grown to £19,281.
However, despite being a member of the Mineworkers Pension Scheme (MPS) for less than 2 years, MMC established that had Mr Smith remained in the MPS, the equivalent ‘cash value’ of his pension would have been £73,443. This meant that Mr Smith had suffered a significant loss of £54,162!
On 12 August 2021, the Financial Services Compensation Scheme (FSCS) awarded Mr Smith £48,000 in compensation for the losses he’d suffered. This was the maximum payment he was entitled to receive under the FSCS rules. Mr Smith was very happy (to say the least) when MMC shared the good news with him.
On 28th August 1990, following 11 years’ service, Mr Housley, an Ex-Mineworker from Heanor, Derbyshire, who worked at Gedling and Moorgreen Collieries in Nottinghamshire, acted on what has now been proven to be unsuitable advice. This resulted in him transferring his Mineworker Pension Scheme (MPS) into a Personal Pension arrangement with Commercial Union Life. The amount transferred was £6,591.21.
Commercial Union merged with General Accident in February 1998, to form Commercial General Union, which merged with Norwich Union to become CGNU in 2000. This was later rebranded as Aviva.
Having compiled all the necessary documentary evidence to build the legal argument, MMC repeatedly chased Aviva for a decision on Mr Housley’s case from 25th January 2021. Finally, 17 months after appointing MMC to manage his claim, Aviva accepted liability for the losses he had suffered, as they were unable to evidence the suitability of the advice.
On 19th August 2021, Aviva then went about calculating the amount of compensation that would be required, to put Mr Housley in the financial position he would have been in, had he not transferred out of the Mineworker Pension Scheme back in 1990.
Following a stern prompt from MMC in the November 2021, Aviva confirmed that despite Mr Housley receiving the significant amount of £45,675 in tax free cash from his personal pension in April 2021, the amount of compensation payable, would be £216,399.59.
The compensation payment did not affect his existing (personal) pension arrangements.
In1992, following 10 years’ service, Mr Maddison, an Ex-Mineworker from Chesterfield, Derbyshire, who worked at Ireland (Staveley) and Markham (Duckmanton) Collieries, acted on what has now been proven to be unsuitable advice. This resulted in him transferring his Mineworker Pension Scheme (MPS) into a Personal Pension arrangement with Colonial Mutual. The total amount transferred was £6,973.69.
Having appointed MMC to manage his claim in April 2020, work commenced in compiling all the necessary documentary evidence to not only build the legal argument, but to establish which entity (if any) carries the liability for Colonial Mutual’s advice. In October 2021, Aviva admitted liability for Mr Maddison’s losses, and went about calculating the amount of compensation that would be required, to put Mr Maddison in the financial position he would have been in, had he not transferred out of the Mineworker Pension Scheme back in 1992.
MMC will continue to monitor the situation until payment is received.
Please note that successful outcomes are not guaranteed.
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Some of the pension providers we have successfully claimed against on behalf of our clients.
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