Did you transfer funds out of a The Electricity Supply Pension Scheme (ESPS) or The National Grid UK Pension Scheme (NGUKPS) also known as The Gas Scheme?

The benefits that came with these pensions were very competitive including perks such as guaranteed income for the whole of life if an individual joined the scheme prior to April 2006. The pension scheme originally opened during the 1990s after the privatisation of the electricity market, those companies participating provided their workers with a great deal of security.

Unfortunately there has been a rise in cases of mis sold pensions whereby individuals were advised to transfer out of The Electricity Supply Pension Scheme without good reason. Some financial advisors have tempted individuals away with the promise of making more money by subjecting themselves to a great amount of risk than they otherwise would have been exposed to and not fully explaining these risks.

Although it may have seemed like a good thing to do based on the advice that had been given, the risks far outweighed any benefits that were received. We have lots of experience with helping people who were part of the pension scheme that have been persuaded to transfer out of it and are now left facing the consequences.

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 The Electricity Supply Pension

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