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Start Your Mis-Sold Pension Claim Today

Mis-selling means that you were given unsuitable advice, the risks were not explained to you or you were not given all the facts you needed and ended up with a pension or investment that didn’t work for you.

Do you feel like you have been mis-sold? We can explore the details of your case and help you to decide on the best option for pursuing a claim.

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Pensions

What is a Mis-Sold Pension?

As with any pension transfers, advisors should make you aware of any risks and costs involved in the transfer and usually shouldn’t encourage you to transfer your pension without a very good reason. Many of the same signs of a mis sold SIPP apply to a defined benefit plan. If you have experienced any of these then you may have been offered a mis sold pension transfer and be eligible for a claim similar to SIPP compensation.

Mis Sold PCP Car Finance Claim

how do i know if i can make a claim?

A defined benefit pension, also known as final salary, is when you transfer your pension in exchange for a cash value. You then invest this cash value into a defined contribution scheme. These include personal pensions, stakeholder pensions, another employee pension scheme, and SIPPs.

A mis sold SIPP is one of the most common types of mis sold pensions, being very popular but generally not suited for anyone without solid investment experience. Your financial advisor shouldn’t encourage you to invest in a SIPP if you are unfamiliar with investing.

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Other signs you may have a mis sold SIPP include

  • Your financial advisor telling you a SIPP is better than another personal pension
  • Your financial advisor promoting a SIPP using only the tax benefits it provides rather than a pension’s benefits
  • Your financial advisor failing to inform you of all the risks associated with a SIPP
  • Your financial advisor failing to inform you that HMRC can change the tax rules at any time, potentially decreasing your return on investment
  • Were you contacted out of the blue and offered a free pension assessment?
  • Did a financial advisor advise you to move your work or personal pension or all of your pensions into Self Invested Personal Pension?
  • Were one of these investment types presented to you:
    • Overseas property? Land? Storage Units? Carparks? Carbon credits? Loan notes? Mauritian stock exchange? Farm land? Plus many more.
  • Were you advised that you were moving your pensions into a possible high-risk investment?
  • Did you fully understand the charging structure?
  • Are you struggling to get access to your pension?
  • Have you been told you have to give notice or even sell the investment yourself?
  • Do you know what you have invested in?
  • Has the company you received the advice from disappeared or gone into administration?

why should i 
make a claim?

Mis-selling means that you were given unsuitable advice, the risks were not explained to you or you were not given all the facts you needed and ended up with a pension or investment that didn’t work for you.

We can explore the details of your case and help you to decide on the best option for pursuing a claim.

Mis-Sold Car Finance PCP

your pension claims in numbers

Romance Scams

£50k*

Average Pension compensation back to a client in 2022

3-6 months

Average time to receive compensation.

Over £12m*

Total amount of pension compensation reclaimed.

Pensions

£310,000*

Biggest compensation to date

*As of September 2023. Figures quoted from the FSCS annual report 2022/2023 and Financial Ombudsmen Service Report.

frequently asked questions

How long does a MIS-sold pension claim take?

This can take up to 6 months to get resolved. Many of the cases we deal with involve advisers or businesses that have stopped trading. In these circumstances we will take your case to the Financial Services Compensation Scheme (FSCS). The turnaround for these claims is around 3 to 6 months.

What are the Claims Supermarket charges?

Our fee is only chargeable if your claim is successful, we charge 27% which is deducted from any successful claim amount.

What makes Claims Supermarket different?

  • Specialist advisors are involved on every case and if necessary we will pay for specialist advice.
  • We take a professional approach to each case and will only pursue a claim if we consider it has a real prospect of success.
  • Claims are professionally and individually prepared and are submitted with the relevant evidence to support such a claim.
  • We believe that by taking this approach you can be confident that you have a claim with a strong prospect of success.
  • Claims Supermarket will not charge you for the initial investigation and can work on a no win no fee to take a case forward.

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