Pension Mis-selling / Transfer
It is now easy to transfer your pension pot into another scheme. This has led to an industry where several individuals have been encouraged to ‘cash in’ their existing pensions and transfer these to a Self Invested Pension Plan (SIPP).
Whilst a SIPP can be a particularly useful product in certain cases, there are inherent risks and often the value of the SIPP is far lower than would have been achieved from an occupational scheme, had the money been left in that product.
Have You Been Mis-sold a Pension or Pension Transfer…
Many individuals have found themselves taking their entire pension pots and putting it into a SIPP. Some SIPP’s may contain exotic investments such as off shore time share developments, agricultural schemes, storage pods, car parks, foreign forestry schemes, wineries and so on.
Often these investments promise high returns upon funds being left in the investment for a lengthy period of time. Many of the assets underperform or are non-existent or fraudulent.
Several of these investments lack liquidity, which means that investors cannot get their money out should they wish.
Several investors have been encouraged to invest in this way by unregulated financial advisors or brokers and who were only interested in earning a quick commission.
Get Advice on Pension and Pension Transfer Mis-Selling Today…
If you have a SIPP which contains exotic, high risk and inappropriate investments it is important to act quickly in order to rescue your funds. A claim should be made against the broker as soon as possible.
Even if the broker involved and/or the SIPP company has gone out of business, compensation may be recovered from a third party such as the FSCS or an indemnity insurer.
Oraclelaw acts on behalf of a large number clients who have been mis-sold pension schemes. We are one of a small number of firms in the U.K. with the expertise to be able recover damages for pension mis-selling.
If you have been affected by pension mis-selling you should contact Paul Fairbridge for an informal discussion and no obligation initial review.
Claims for mis-sold pensions can be conducted on a no win no fee basis
Paul can be contacted on firstname.lastname@example.org or at 0141 332 0915