Did you transfer from the BP Pension Fund?

Some larger, older businesses, such as BP, offered their workers final salary pensions. These are highly valuable thanks to their many generous benefits.

Many financial advisors were particularly persuasive in getting members to transfer funds from this secure pension even though the transfer would not be in the best interest of their clients.  This led to a loss of certain benefits that were irreplaceable. Financial advisors are duty-bound to abide by FCA rules and regulations.  These include where a pension transfer is not suitable, they should provide sound reasoning on why it might be suitable for their client. The advice they give should be issued on a case-by-case basis.

Once a pension transfer has been completed many people lost money without realising it. If this happened to you then do not worry as we can help to determine if the advice you were given was negligent. If this is found to be the case, then you might be eligible to apply for a compensation claim.

Please call us for a free-of-charge, no-obligation chat with one of our experts. They will be able to provide you with insight into how to proceed with your compensation claim. The fees that we charge are very reasonable when compared with those of other solicitors. This is because we do not purchase client data from third party suppliers and nor do we use call centres.

Call us now for a phone or video consultation with one of our legal experts on 0800 041 8358 to find out if you are entitled to compensation, you may even be entitled to additional compensation if you have successfully claimed in the past.

Frequently Asked Questions

Pension mis-selling occurs when a financial adviser provides unsuitable advice to transfer or invest your pension into schemes that are inappropriate for your financial situation or risk appetite. This could include high-risk investments or inappropriate pension transfers, such as moving a defined benefit pension into a riskier scheme.

You may have been mis-sold a pension if:
– You were advised to move your pension into high-risk investments without understanding the risks.
– You were not informed of exit fees or charges when transferring your pension.
– You were advised to transfer out of a defined benefit pension, which led to financial losses.
If these situations sound familiar, you could be entitled to make a claim for compensation.

Compensation depends on the extent of your losses. Typically, it includes financial losses due to bad advice or mismanagement, including lost returns, exit fees, and fees paid for services that were not delivered. We assess your case and help you understand the potential amount of compensation.

There are time-barring restrictions for pension mis-selling claims, usually six years from when the advice was given, or three years from when you realised the pension was mis-sold. It’s important to act quickly to ensure your claim is within the legal timeframe.

The process involves:
– A free consultation to assess your case.
– Gathering of all necessary evidence, such as contracts and statements.
– Submission of your claim to the Financial Services Compensation Scheme (FSCS) or other relevant bodies.
We handle the entire process for you and keep you informed throughout.

Our services are provided on a no-win-no-fee basis, meaning you will only pay if we successfully recover compensation on your behalf. There are no upfront costs or hidden fees.

Yes. If Barton Hatcher Ingram Financial Management Limited is no longer trading, you can still make a claim through the Financial Services Compensation Scheme (FSCS), which handles claims for firms that have gone into liquidation.

The time it takes to process a pension mis-selling claim can vary based on the complexity of the case and the involvement of other parties. On average, claims can take several months to a year to resolve, but we will work diligently to handle your case as efficiently as possible.

News & Updates about BP Pension Claim

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