06/01/2021
Final salary pension scheme members to suffer big financial hit after spending review Final salary pension scheme members are set to be among the hardest hit by Rishi Sunak’s recent spending review. This comes from a planned change, set to be implemented in 2030, in the way pensions are calculated. It’s estimated that over 6 … Continued
24/11/2020
Kingsway Wealth Management Kingsway Wealth Management is facing a rising number of pension-switching claims since defaulting with the lifeboat scheme earlier this year. The failed IFA has seen a steep rise in compensation claims since May, with a total of £1,729,085 paid on 35 claims so far according to the Financial Times. Kingsway became … Continued
15/10/2020
Carey Pensions Court Appeal Russell Adams, who two years ago decided to take Carey Pensions (now better known as Options Pensions) to court over a mis-sold SIPPs (Self Invested Personal Pensions), claiming they had used a spanish-based unregulated introducer for investments in Store First Unit Pods which were deemed “worthless” and “unsuitable”. Has now … Continued
07/10/2019
RSM, who have taken over as administrators of Berkeley Burke SIPP have taken the decision to stop their fight through the Court of Appeal over their SIPP due diligence case. For the last couple of years, Berkeley Burke have been in an ongoing legal battle after the Financial Ombudsman Service found them at fault for … Continued
03/10/2019
Blackstar Wealth Management entered administration in August 2019 A financial advice firm that is known to have transferred people’s final salary pensions into SIPPs filled with high-risk and unregulated investments has entered into administration. Based in the West Midlands, Blackstar Wealth Management Ltd which operated as a registered business from 2008 appointed Andrew Fender of … Continued
19/09/2019
SIPP pension provider now in insolvency proceedings The pension provider at the centre of a high-profile court case, Berkeley Burke SIPP Administration Limited, has followed other SIPP providers into administration. Berkeley Burke appointed Adrian Allen and Diana Frangou of RSM Restructuring Advisory LLP to be the joint administrators over the firm’s insolvency proceedings, with many … Continued
15/05/2019
Complaints and claims about pension transfer and investment advice are on the rise again… With so many of us being told we’d be better off moving our pensions elsewhere, either after cold-calls or through financial advisers, it’s not too surprising to see there’s been an increase in complaints about pensions. What may be surprising is … Continued
02/05/2019
Over 400 claims upheld by Financial Services Compensation Scheme over Henderson Carter Final salary pension transfer problems High-risk investments mis-sold to clients How Spencer Churchill Claims Advice has helped The FSCS – a source of compensation for people who have suffered from a mis-sold pension transfer, has said that it has dealt with 625 claims … Continued
25/04/2019
Thousands have lost money from mis-sold final salary pension transfers without realising it, even if it looks like their pension is growing!
17/04/2019
The FCA has warned that it has seen an increase in scams ran through discretionary fund managers – often a part of SIPP pensions. DFMs are portfolios of investment bonds The bonds are chosen and managed Portfolios are often rated by risk Many DFMs may involve scams Did you move your pension to a SIPP … Continued
