Miss Sold Pension Claims
A “Mis sold pension” is a pension plan that has been sold to an investor where there has either been bad financial advice, or promises made that were not realistic in terms of returns or an otherwise deceptive tactic at play that has left the customer in a position where they have been deceived.
Criteria for miss selling are as follows (not an exhaustive list):
1/ The customer has received bad quality financial advice from a source that may have had a vested interest in the taking up of a financial product (commonly SIPPS).
2/ The customer has received financial advice from a company that is NOT FCA regulated (it may have been FSA regulation Pre-2014, the same applies in this case as the FSA became the FCA in 2014).
3/ The customer has received financial advice from a company that was FCA regulated but the advice was mis-leading or the investment has underperformed when measured against what the expectations were at the point of sale:
For example: some companies may state that a 5% increase per annum is to be expected but the performance of the pension has been below this: this may be a cause for mis-selling upon further investigation.
4/ General under-performance of a pension – this will require further investigation but we can handle this along with investigations on all of the above criteria, you may need an experts opinion to verify if this constitutes “Mis Selling of a pension” or “Mis Selling Of a SIPP”.
A “Pension Claim” is a general term to address the procedure by which a member of the public that has been found to have been miss sold a pension can claim compensation for that pension miss sale.
There have been a range of pensions and investments that have been miss sold during the course of the last 25 years, one of the most commonly miss sold types of pension is the “SIPP” (Self invested personal pension) which is a product that enables investors to allocate their pension into an investment option, that may or may not perform well.
People are able to make claims for pension mis selling if upon investigation it is found that there has been deception or bad advice given, we recommend you get in touch with us for a review of your pension so we can provide feedback on whether or not you have been mis sold & subsequently help you with a claim.
This can vary dependant on the case, the size, and the scale of the mis-selling that has taken place, you would need an expert opinion before any accurate estimations are made as to the size of the claim you can make, you can contact us on this page for more information.
We can help you with pension claims & we can also claim statutory interest in many cases (ask our advisers’ for more information).
Once our team has had chance to investigate your pension claim, it will be much easier to give you an idea of what your compensation amount may be (if you claim is deemed valid).
This again will be dependant on the type of claim that is made, SIPPs complaints can take months to complete, which is why it is worth making content will us as soon as possible to begin the process so we can begin investigation immediately.
Once our team has taken the time to investigate your claim, it would be much easier to provide accurate estimations as to how quickly you may receive compensation for your miss sold pension.
You can use the form to the top of the page on the right hand side to get in touch with us.
We will review your pension claim on a no win no fee basis.