Whilst also trading as PWH Resolve Ltd, PWH Financial Planning Limited advertised to individuals that through proper financial management it would ensure their future wealth.

The advice that their clients should transfer away from their occupational pension would most definitely not been in their best interest. This is because these financial products are often referred to as golf plated pensions.

Pension Transfers

Anyone who has been given the advice to transfer funds from their occupational pension into a qualified registered overseas scheme (QROPS), a personal pension, a small self-administered scheme (SSAS), or a self-invested personal pension (SIPP) might be able to claim for compensation. Despite thinking that you were aware of the various implications of performing a pension transfer, it was likely to be the case that doing so was not the best option for you. It is also likely to be the case that you weren’t fully aware of all of the risks involved.

For instance, private pensions are at the mercy of various market risks, where the value can either go up or down. This means that when it comes to retire and you attempt to draw off funds, it can quickly run out. This is what makes defined contribution (DC) or defined benefit (DB) different. They pay out all the way up until death, regardless of the age of the individual. There only exists a very small number of circumstances where it is suitable to transfer away from this type of pension.

Final Salary Pensions

When looking at the transfer of British Steel final salary pensions, the regulatory body found it to be the case that there were many flaws. This promoted the body to ask workers to put in complaints even they were not aware of any problems and even if their pension has grown.

This applies to any British Steel workers even if the company did not recommend a pension transfer but still acted as a facilitator for it; the company stated a transfer was suitable for the purpose of releasing a lump sum of tax free cash for the purpose of repaying a debt; the company stated that members of your family would be better off from the transfer when you die; the value of your new pension has increased and there is no sign of a loss.


Lots of former clients have made complaints about the financial advice that they received. Even if you are someone who is happy with the outcome of transferring their pension, you are still entitled to make a compensation claim. However, you need to act quickly as there is likely to be time restrictions in place. If you don’t do this, you could be left with much less money for your retirement than you were hoping.

For example, if a client is a member of several pension schemes and transfers £70,000 out of it in 2009, the loss of benefit buy 2019 would be £317,000. Another example shows that by transferring £43,000 out of  an armed forces pension scheme in 2011, an individual would experience a loss of £158,000 by 2020.

Even if your pension pot has grown with your current plan, you could still be able to apply for compensation in the form of money redress. And even if the company rejects your case, then you could still be given as much as £160,000 by the Financial Ombudsman Service (FOS) if they find that the advice you were given was not suitable. If it is the case that the company is no longer in business, then the Financial Services Compensation Scheme may still award you as much as £85,000 in compensation.

Get Advice Quick

For some people, the process of making a claim for compensation may seem rather worrying. This is why you should get in contact with us today for an informal and no obligation discussion to go through the options that are available to you. Doing this is completely free of charge.

You should know that if you do decide to use our service, that our fees are very reasonable when compared with other solicitors – this is because we don’t in from third parties and nor do we run call centres. You only pay the fees if your claim is successful and you are happy with the service we provided.

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