RBS Pension Scheme
Do You Know Someone Who Transferred Out of the RBS Pension Scheme?
They could be owed thousands of pounds in compensation or financial redress.
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Even if there was a legitimate reason to transfer out of their RBS pension scheme, they may still be entitled to make a pension transfer claim.
Individuals may also be eligible for a mis-sold pension claim if they transferred out of any defined pension scheme into one of the following:
- Self-Invested Personal Pension (SIPP)
- Small Self-Administered Scheme (SSAS)
- Qualifying Recognised Overseas Pension Scheme (QROPS)
Why might RBS or your Financial Adviser be at fault?
The Trustees and Administrators of the RBS Pension Scheme have a statutory responsibility to the members of their pension scheme. In many cases, transfers were approved without adequate scrutiny.
In addition, compensation may be available to individuals who:
- Took early retirement and transferred out of the scheme before they reached pensionable age
- Were transferred to a Qualifying Recognised Overseas Pension Scheme (QROPS) whether they moved abroad or not.
- Are spouses, beneficiaries, or have power of attorney of someone who transferred out of the scheme and has since passed away.
- Were given bad advice or were mis-sold pensions by financial advisers when they transferred out of the scheme.
How We Can Help
We will assess whether poor advice was given, and if so, promptly work to provide an estimate of the compensation they may be owed.
Financial Mis-Selling
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At Claim My Loss, we’re all about having your back in financial, investment, energy, car finance and pension compensation cases. If we decide to champion your case, rest assured we’ll shoulder the costs and advocate for you without any upfront charges. We’re in this together!
About the RBS Pension Scheme
- The RBS Pension Scheme is a fundamental component of the retirement benefits offered to employees of RBS, one of the UK’s major financial institutions.
- This scheme is primarily a defined benefit pension plan, offering predetermined pension payments based on salary history and length of service.
- The scheme provides a stable and secure retirement income to thousands of members, demonstrating RBS’s commitment to long-term financial security for its workforce.
- Over the years, the RBS Pension Scheme has been managed with a focus on sustainability and risk mitigation, adapting its investment strategy to meet changing market conditions and regulatory requirements.
- The scheme is notable for its substantial size and influence in the UK pensions landscape, ensuring strong governance and professional management to safeguard the interests of its beneficiaries.
- As a defined benefit pension scheme, it is considered the gold standard of pensions as it guarantees a level of income which increases in line with inflation.
