Mineworkers

If you are an existing or ex-miner, and were advised to transfer away from the Mineworkers’ Pension Scheme (MPS), you may be entitled to compensation.

Given the tough nature of the role, miners in the UK are often offered exemplary pension benefits to compensate. In 1988, however, The Personal Pension provisions of the Social Security Act 1986 came into force, allowing miners the flexibility to save for their own retirement themselves, if they so wished.

Around this time, there was a surge in independent financial advisors (IFAs) contacting mine workers, advising them to transfer from their secure MPS to their own personal pension, with the promise of better rates or higher investment returns. 

Between 1988 and 1994, more than five million personal pensions were sold by IFAs, or commission-led sales teams employed by banks.

This advice, has caused many mineworkers to lose out on thousands of pounds of their own pension savings.

At Money and Me Solicitors, we have a proven track record of delivering compensation for those who have received poor financial advice. We understand the process can be daunting; that’s why we’re here to walk you through every step, sharing each update with you in your own language – with no legal jargon.

If you believe you may have suffered financial loss due to a mis-sold pension transfer, reach out to our team today.

If you feel that you may have been wrongly advised to transfer your pension, reach out to the team today. If we believe your claim has possible merit, we will offer our legal services on a No Win No Fee basis where so long as you allow us to proceed with your claim or claims to a conclusion, we will only charge you a fee from any successful compensation we recover for you.