Pension Transfer Claims
Have you been advised to transfer your pension and now worry that maybe it wasn’t the right decision?
We understand it can be hard to tell the difference – the good news is that you don’t have to navigate this alone. Our team can help you assess your situation and if necessary, take the next steps to seek compensation or financial redress for you.
It costs nothing to get a free assesment of your claim, so why not book an appointment with one of our Pension Transfer experts today.
Pension Transfer Claims FAQs:
What is a pension transfer claim?
A pension transfer claim is based on applying for financial compensation or redress for financial losses incurred after transferring your pension to a scheme that offers fewer benefits or greater risks.
Why might a pension transfer be considered mis-sold?
A transfer may be mis-sold if the adviser failed to explain the loss of guaranteed benefits, unsuitable investments within the pension which may have lost money or if the new scheme did not suit your financial needs.
Is there a time limit to make a pension transfer claim?
Generally, you have six years from the date of the transfer or three years from when you became aware of the issue to make a claim. We have had successful claims for clients up to 14 years after the event took place.
Can I reverse a pension transfer?
While reversing a pension transfer possible, generally speaking it can be hard to unwind. Often the best course of action is to seek financial compensation or redress for for any financial losses resulting from the transfer.
What factors determine the success of a pension transfer claim?
Factors include the quality of the advice given, how you were approached about the pension transfer (Cold calling), whether the risks were adequately explained and the financial losses suffered as a result of the transfer.
Can I claim for a pension transfer made after the six-year limit?
Yes, if you only became aware of the mis-selling within the last three years, you might still be eligible to claim.
Transferring from a Final Salary or Defined Benefit Pension can lead to the loss of guaranteed benefits and reliance on investment performance. If you were not adequately informed of these risks, you might have grounds for a compensation claim.
Request a call back
Are you worried that poor advice or mismanagement from a financial adviser has cost you money?
Are you worried that you may have invested into something that wasn’t right for you?
Have you used Hire Purchase or Personal Contract Purchase to purchase any vehicles over the last 10 years?
