Expert Mis-sold Pension Compensation Claims

We specialise in mis-sold pension compensation claims. As we work with solicitors, we bring first-hand expertise to missold pensions.

Mis-sold Pension Compensation Claims Solicitors

A mis-sold pension compensation claims is a newer type of claim we deal with here at The Compensation Experts. These claims are also commonly known as Self-Invested Personal Pension (SIPP) mis-selling.

Within this subject, there are two questions that people often ask us. Namely:

“So what, exactly, is a mis-sold pension?”

“Moreover, how can you be sure that you should pursue a mis-sold pension compensation claim?”

If you turn to us, you’ll trust in the advisors and legal experts that know the ethics and law for bad pension advice. First, let’s address each question.

“What, exactly, is a mis-sold pension?”

In short, the scope of this issue revolves around poor advice and negligence in outlining the risks that come with a pension. Essentially, a financial adviser needs to be assiduous in:

  • First, making absolutely certain that you know and understand the risks involved.
  • Additionally, giving you all the information you need so that you can make a decision with reason and that is well-informed.
  • Also, you might have fallen victim to perilous investments of your pension funds.
    • For instance, successful claims occur if an IFA convinces you to transfer your pension funds into a risky SIPP involving sectors like property syndicates.

“How can you be sure that you should pursue a mis-sold pension compensation claim?”

Frankly, with independent financial advisers, it’s not always easy to tell. But it may help to know that this practice is more widespread than you might think and that you’re not alone.

Consider the SIPPs mis-selling scandal, which hit a new low in 2018 with over 2,000 mis-selling complaints. The Financial Services Compensation Scheme (FSCS), accordingly, found it necessary to set aside nearly £400 million in preparation for compensation claims. Between August and October 2018, 62% of all complaints were upheld in favour of the claimant.

With that in mind, it’s reasonable to seek out No Win, No Fee solicitors that specialise in bad pension practice claims. You’ve no financial commitment to sort out if you don’t win. Moreover, an expert solicitor gives your initial case it’s requisite due diligence. Otherwise, they wouldn’t agree to proceed: in short, they’ve shown that they believe in your chances of winning.

Mis-sold Pension Compensation Claim Experiences

In practice, independent financial advisers employ a variety of different tactics that might result in a mis-sold pension. Here’s a rundown of just a few scenarios where you might be able to pursue a mis-sold pension compensation claim.

  • For instance, you only become aware of what your pension has invested in after the fact.
  • The adviser was keen to suggest that you move your work or personal pension into a SIPP.
  • You weren’t given a full picture of the charges you would incur.

Proving Liability in a Mis-sold Pension Compensation Claim

With any compensation claim, the claimant needs to prove the liability of the financial adviser who mis-sold the pension scheme to you. Indeed, the loss of earnings from falls injury and a falling accident.

Financial advisors & institutions pay £billions in compensation for mis-selling to trusting customers. For instance, investment, insurance, and pensions are all products they use for these ends. Moreover, with a new decade and the fall of PPI, SIPP mis-sellings are going to be the new norm in public compensation backlash.

How do you prove it?

In short, you need to have evidence that proves the level to which your adviser misled you. For instance:

  • Did they promise 100% returns but you actually lost money? To prove your claim, you’ll need to be able to document and verify it.
  • Suppose that it was your understanding that you would have full access to your money. However, after signing on, it turns out that it was only limited access in practice. Can you verify that in your claim?
  • Did they steer your funds toward a high-risk enterprise without your knowledge? As you might expect, a judge will likely ask if you can back that up.

Indeed, proving all of this can sound like a particularly difficult task. However, the success The Compensation Experts has in obtaining compensation for our clients shows it is possible with the right legal support. That’s true with any and every claim for compensation we make on your behalf. With the evidence and your testimony, a bad advice pension can put money back in your pocket.

In addition to evidence like the documents themselves, your lawyer will obtain records from the financial institutions (public or private) regarding any history of complaints made on the record.

Making a Claim for Mis-sold Pension Compensation

Here are the contact details for The Compensation Experts. So get in touch today if you seek mis-sold pension compensation against financial advisers that didn’t meet their obligations. Our legal advisors will be able to tell you if you deserve to claim damages and, if so, how we can help you.

Start a claim through our expert personal injury solicitors and specialist solicitors today.

*This might be a private individual, a company, or a local authority.

**By law, the owner has at least six months to do this.

    Start by speaking to our expert team now and find out how much your claim could be worth...

    You could be owed between
    £1,950 - £128,320.
    Start your claim now

    You could be owed between
    £6,290 - £38,280
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    You could be owed between
    £1,950 - £118,240.
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    You could be owed between
    £2,810 - £239,140.
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    You could be owed between
    £5,800 - £224,800.
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    You could be owed between
    £3,150 - £104,370.
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    You could be owed between
    £1,760 - £322,060.
    Start your claim now

    You could be owed between
    £2,390 - £100,350.
    Start your claim now

    You could be owed between
    £3,150 - £322,060.
    Start your claim now

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    Am I eligible?

    If you were mis-sold a pension in the last three years, due to someone else’s negligence, the short answer is yes.

    Exceptions to this are for instance industrial disease or if you were a child at the time of the accident you may have a longer period to claim.

    Find out more

    How much could I claim?

    As every pension is different, the amount of compensation paid out can differ case to case. Varying factors lead to the final figure.

    Our dedicated team of experts will give you an indication of how much you could potentially claim for.

    Find out more

    How does the process work?

    We understand that when making a claim it’s important to know what to expect and when to expect it. That’s why we make the process as transparent & clear as possible.

    Your solicitor will gather all the evidence and will notify the negligent party that you wish to begin claim proceedings. With your solicitor negotiating on your behalf, you will be keep up to date every step of the way.

    Find out more