Forthplus Pensions Limited (Formerly Athena Pensions Limited)
Forthplus Pensions Limited (FRN 653170) was an FCA-regulated Self-Invested Personal Pension (SIPP) provider that operated under the former name Athena Pensions Limited, and before that as Helium Miracle 119 Limited. At its peak, the firm managed SIPP assets worth over £500 million on behalf of approximately 2,500 clients. It was placed into administration on 19 October 2021.
The firm entered administration after its board recognised that it could no longer meet its regulatory capital adequacy requirements and was unable to continue operating. This followed a surge in complaints at the Financial Ombudsman Service, many of which related to concerns about the due diligence Forthplus carried out before allowing clients to make certain investments within their pensions. The Ombudsman issued provisional assessments finding that, in a number of representative cases, the due diligence was inadequate.
Andrew Poxon, Alex Cadwallader and Barry Stewart of Leonard Curtis Business Solutions Group were appointed as joint administrators in October 2021. The FSCS received 644 claims against Forthplus and declared the firm in default in July 2025, enabling eligible claimants to seek up to £85,000 in compensation.
Issues / Why You May Have a Claim
SIPP providers have a duty to carry out proper due diligence before allowing pension funds to be placed in non-standard investments. Where that due diligence fails, clients can find their retirement savings locked in illiquid or worthless assets. Former Forthplus clients who were allowed to make unsuitable investments within their SIPP, or who suffered losses as a result of inadequate oversight, may have a strong claim for compensation.
