Has poor pension advice led to you losing out financially?
You may have been a victim of pension mis-selling.
We can offer advice and assistance if you have:
- Invested in a high risk scheme that subsequently failed
- Did not receive proper pension advice that explained entitlement to an enhanced annuity
- Been advised to transfer into another scheme which performed poorly or
- Transferred a final salary pension into a private scheme
“Obtaining the right advice is important. If you are in any way unsure as to whether you received good or poor pension advice, please complete the form above or call us on 01925 859625.”
Following the new pension reforms in 2015 it quickly became clear that there were insufficient regulations in place to protect people who were able to access their pensions from becoming victims of pension mis-selling.
Inexperienced investors were drawn to the attractive propositions set out in the new pension freedoms bill, in particular the ability to take a percentage of their savings as a cash lump sum and to reinvest the remainder into schemes of their choice. Unfortunately, many of these schemes were unsuitable for a variety of reasons – heavy tax burdens, failing investments and risky investments not being matched to risk predilection were just a few.
The result of this in many cases led to a depreciation of pension value and a subsequent loss of income on retirement – just when the money is needed most.
If you have lost out financially as a result of the poor performance of your new pension scheme you may have been a victim of mis-selling and could claim compensation for your losses. At Money and Me Solicitors we are committed to helping people who have been mis-sold a pension, claim the amount that they are rightfully owed.
If you believe you have been mis-sold a pension following advice and have lost out as a result, get in touch with our team to see how we can help.
REQUEST A CALLBACK
Contact Money and Me Solicitors
Our office is open Monday to Friday from 9:00 am to 5:00pm Call us on:
Tel: 01925 859625
Or complete our contact form and a member of the team will call you back.
How much could you claim?
Compensation is payable for losses incurred. You may have incurred a loss simply by transferring your final salary pension and investment losses may have occurred 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 firm that advised you is still trading, uphold your complaint and agree to pay you compensation without any Financial Ombudsman Service intervention, there is no upper limit of compensation.
There is also no upper limit on damages and compensation payable should the matter proceed via Court Action or Mediation and you are successful in the sense of an award of damages and compensation by a judge hearing the court case, or agreement is reached by the parties in a process called Mediation.