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THINK YOU MAY HAVE BEEN MIS-SOLD A PENSION? Then why not let our team help you. We want to hear from you. Phone or email for a free thorough initial assessment. It starts with a Free Initial Assessment to see if your story has the signs of pension mis-selling, to see if you can make a No Win – No Fee* claim. We LOVE winning pension claims for our clients, and it’s meant we’ve recovered £MILLIONS on their behalf. Can we do the same for you, too?Contact Us
Can You make a Compensation claim for
a Mis-Sold SIPP Pension?
Many of these SIPP investors do not earn high amounts of money and any loss is devastating to them. They are not what you can call sophisticated investors either.They went into this blindly without knowing the risks involved and believed they would benefit highly. The Cadnam Plot SIPP investors did not lose anything. The first thing they wanted to find out of course was if they were eligible for claims and if they were, how they would go about claiming what was rightfully theirs.
Financial experts believe mis-sold pensions are likely to be the next big scandal facing the financial sector. It’s apparent that a huge number of pension holders across the UK have fallen victim to poor, faulty or fraudulent advice from unauthorised or unregulated financial advisers.
IIn recent years, there has been a number of cases where people have been wrongly advised to transfer perfectly performing pensions on the basis that better opportunities for growth, and in some cases flexibility, existed elsewhere. In many cases it started with a cold call or when arranging a mortgage with a broker and the suggestion of reviewing existing pensions was made.
Unfortunately, some pension holders have lost significant amounts of money, or in some cases their entire pension, because of such transfers. If this sounds familiar, you may be eligible for compensation and it’s our mission at Reclaim My Money to help you claim what you are entitled to.
Any recommendations to move away from the safe gold-plated final salary pensions and the guarantees of defined benefit schemes offer can only be made once a significant amount of research has been done. The FCA has recently restricted many financial advisers from transferring defined benefit pensions and has put additional protections in place to protect consumers. The Financial conduct authority has clearly suggested that transferring out of defined benefit pension scheme is rarely advisable.
If you have moved or safe gold-plated final salary pension, you could be due compensation, even if you can see your new pension has gone up in value. Contact one of our specialists for a free no obligation review.
A vast array of these types of schemes exist, all offering the promise high returns and, in many cases, unfortunately these schemes have now collapsed. Unfortunately, many have delivered nothing other than misery and the loss of some or all of the initial investment. Scammers have used a number of pension vehicles such as SIPPs, SSASs and Retirement Benefit Schemes. Defined contribution schemes.
Again, less scrupulous advisors have often focused on alleged poor performance of existing pension arrangements and recommended alternative, far riskier solutions.
This may go hand in hand with the recommendation of a SIPP, SSAS or a newly formed Retirement Benefit Scheme.
A QROPS is an overseas pension scheme that meets requirements set by Her Majesty’s Revenue and Customs (HMRC).
QROPS may be appropriate for UK citizens who have left the UK to retire abroad on a permanent basis – participating countries and territories include Gibraltar, Cyprus, New Zealand and Australia. However, any transfer of money away from the UK risks leaving behind the security of the most highly regulated financial market in the world.
Pressure Selling Tactics The adviser used pressure tactics to lure you into an investment that you didn’t want.
Lack Of Understanding Are you new to investing and couldn’t understand what the adviser told you?
Lack Of Transparency The adviser didn’t give you all the information about the fees attached to the investment.
Poor Advice The adviser told you to switch even when your current pension scheme was ideal for your current situation.
Advice On Avoiding Tax Did the adviser recommend a SIPP to avoid tax?
The Adviser Didn’t Explain The Risks The adviser didn’t give you a clear picture of the risks and negative implications of the investment.