Pension Mis-Selling – Has It Happened To You?
For most of us, pensions are complex financial arrangements. Often, they’re so complex that it can be difficult to tell whether your pension advisor has sold you the right pension or not.
Yet all pension advisors are under an obligation to sell the right pension for you, and there’s a strict code of practice they must follow to ensure they do that. If your bank, advisor or other financial institution didn’t do that, you may have a claim.
Over the past few years, regulators in the UK have seen a big increase in the number of claims brought against pension companies. As a result, they’re receiving more fines and paying more compensation than ever before.
If your pension was mis-sold, you may be due some of that compensation.
But how do you know whether the pension you have is the pension you need?
How Do I Know If My Pension Was Mis-Sold?
There are lots of potential ways your pension could have been mis-sold. Here are just come of them:
- The wrong choice – You had a choice of personal pension or company scheme and your advisor incorrectly suggested a personal pension would be the better option
- No choice – If you were only offered one pension, or a very limited choice, without being given the opportunity to shop around, your pension may have been mis-sold
- No/incorrect approach to health issues – Your pensions advisor should have asked you about your health and medical issues and taken them into account when selecting the best pension product for you. If they didn’t do that, you may have a claim
- Not enough information – You can’t choose the right pension unless you have all the information you need to make that decision. If your decision was based on no or limited information, or if the decision was taken out of your hands, your pension may have been mis-sold
- No/insufficient consideration of risk – Choosing the right pension is all about matching the right product to your attitude towards risk. If that didn’t happen, your pension may have been mis-sold
- Wrong information – Were you advised to transfer you pension? Is the amount you’re getting back little more (or even less) than the amount you paid in? Were you left in the dark about the risks? You may have a claim.
If any of the above applies to you, you may be entitled to compensation.
Pension Mis-selling Compensation – How Much Will I Get?
If your claim is upheld, you’ll be entitled to compensation.
The amount of that compensation can vary greatly from case to case depending on your circumstances, but on average our panel recovers £37,000 for successful pension mis-selling claims.
Of course, as that’s an average the amount you are awarded could be less – or considerably more.
If you don’t win, you won’t pay our panel anything. And there’s nothing to pay upfront.* There may be a termination fee if you cancel your claim with a panel member after the cooling-off period.
See if you have a claim now by completing the enquiry form to receive a free no-obligation review of your claim.
Mis-Sold Pension Compensation – How Do I Make A Claim?
Every claim for mis-sold pension compensation progresses in a similar way:
- You make an initial inquiry to our panel. You can do that from the free eligibility checker below.
- If the claim is accepted, our panel of solicitors will send you a claim pack, which is your chance to tell them everything you can about yourself and your pension
- After you’ve sent it back to our panel, you’ll still have 14 days to cancel your claim
- Our panel will contact your pension provider and give them 40 days to send us your file
- They review the file and get in touch with you if they need any additional information
- If the panel think you have a case, we’ll submit your mis-sold pension compensation claim on your behalf. Your pension provider has 8 weeks to respond as standard but they can ask for an extension of up to 4 weeks
- Now, one of two things will happen: either your pension provider will accept the claim and offer compensation, or they will reject the claim. If they reject, our panel will take the case to the Financial Ombudsman on your behalf – but they will always ask for your authorisation before they do this
Why Work With Our Expert Panel?
Because when it comes to pension mis-selling claims, the group of solicitors we have compiled are the experts. They are all vetted and regulated by the Solicitor Regulatory Authority.
They do not talk legal jargon. And they always keep the lines of communication open – so if you need to talk to them about your claim, you can.
And because they are committed to dealing with your claim as quickly, confidentially, considerately and successfully as possible.
They know that pension mis-selling companies can all look similar and sound alike.
Talk To Our Panel About Your Pension Mis-Selling Claim Now
They want to help you recover the money you are owed. It could amount to £000s. See if you have a claim now.