The collapse of 3 SIPP pension providers, Brooklands Trustees, Montpelier Pension Administration Services and Stadia Trustees, has so far cost the FSCS £17 million in compensation.
Because the three firms stopped trading and disintegrated, it meant that the FSCS had to step in, declaring the firms in default, which meant that it would consider paying out compensation for clients effected.
So far:
- 229 claims have been paid out for Stadia Trustees, at £7.5 million.
- 313 claims have been paid out for Brooklands, at £9 million
- 17 claims have been paid out for Montpelier, at £600,000
High risk, unregulated investments
Many recent mis-sold pension compensation cases have involved high-risk, unregulated investments that were often not suitable for the client, including overseas property, storage pods and other alternative investments.
You can read more about SIPP mis-selling on our dedicated page.
Let’s rewrite your financial story
We are here to rewrite the book for you. And luckily we are pretty damn good at creating happy endings.
We are here to rewrite the book for you. And luckily we are pretty damn good at creating happy endings.
When you get let down by someone you thought you could trust, it can leave its mark on you, emotionally and physically.
We are committed to transparency and fairness in the way we conduct with clients, including how we charge for our claims services.
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