The SIPP provider, Forthplus Pensions Ltd, was placed into administration on 19th October 2021. The joint administrators have been appointed (Leonard Curtis) and iPensions Group are responsible for taking over all of the company’s clients.

Forthplus Pensions Ltd previously traded under the names Helium Miracle 119 Ltd and Athena Pensions Ltd.

Pension Advisors Based In Spain

The company had some 2,500 clients on their books – most of them being British nationals who now live abroad. Many of these were first introduced to the idea of moving their pension and putting money into various investments by Square Mile Financial Services, this company later changed its name to Planet Pensions Ltd. As Square Mile Financial Services did not have the relevant permissions to provide clients with pension transfer advice, they instead introduced their clients to a UK regulated company based in Spain called AES Financial Services Ltd.

International Pension Transfer Specialists (the trading name for the Spanish branch of AES Financial Services Ltd) sent clients a letter of recommendation and stated that Spanish law was applicable. However, the company didn’t mention that transfers out of the scheme could only be accepted if advice had been given by a UK regulated and authorised company that had all of the relevant permissions.

Unsuitable Advice

The company began to struggle because of the large number of complaints that the Financial Ombudsman Service (FOS) received with respect to due diligence prior to taking on pensions savers.

Anyone who had dealings with the company and ended up transferring their pension may have been given advice that wasn’t suitable and so they should have their transaction reviewed immediately by a professional.

Next Steps

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 Forthplus Pensions Limited

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