Can you make a claim for a mis-sold annuity?

Secure your future with confidence: Find out if you’ve been mis-sold an annuity and how we can help reclaim what’s rightfully yours.

Have I been mis-sold my annuity?

A mis-sold annuity can mean you end up left out-of-pocket in retirement even despite saving up a good amount in your pension pot!

If you’ve purchased an annuity to give yourself an income in retirement, read on to see if some of the classic signs of a mis-sold annuity apply to you – you may be able to make a claim for a mis-sold pension!

Spencer Churchill Claims Advice have experience recovering money from mis-sold pensions including final salary pensions and SIPP, but we’re just as passionate about righting the wrongs of a mis-sold annuity.

How can I make a mis-sold annuity claim?

The first step to making an annuity claim is to establish whether you have the basis for a mis-selling claim, and for most people getting a firm grasp of the rules that financial advisers have to follow, and whether they may have been broken may be the difficult part.

Spencer Churchill Claims Advice are specialists in mis-sold pensions including annuity claims, final salary pension transfer claims, and mis-sold SIPPs, and offer the use of our knowledge, experience and claims strategy as part of a FREE initial assessment service.

Have a free, no-obligation chat with one of our experienced case assessors and we’ll help you discover whether you can make a claim.

If so, you may be able to come on board with our experienced team to have your claim made for you on a no upfront cost basis.

Please note: No Win – No Fee*: Successful claims made through Spencer Churchill Claims Advice are subject to the Success Fee, charged as per your terms of business and engagement letter of any monies awarded to the claim. Clients have a 14 day “Cooling-Off” period during which time they may cancel at any time without charge. After this time, cancellation will result in the application of the Cancellation Fee.

*Figures calculated before deduction of Success Fee and taxes

Have I been mis-sold an annuity?

Thousands of people who bought annuities with their pension pots may have been sold an unsuitable annuity for their needs.

You may have been mis-sold an annuity if:

• You weren’t given all the annuity options
  High-pressure tactics used by some advisers looking for a quick sale may rush through the options. In some cases, they may only present the option that pays them the most commission. Did you get to look at other annuity options?
• You wrongly received a standard annuity rate
  Different annuities suit different people. A standard annuity rate may be considered suitable for somebody who is reasonably expected to live to a normal age, and will pay out an accordingly reasonable amount (as the annuity provider could be paying it for years – a slow burner)If you were in poor health, were a smoker, had been diagnosed with life-limited conditions or had worked in a hazardous environment (asbestos etc), then a standard annuity may have been incorrect (as an enhanced annuity may have been more suitable, which would pay more money faster).
• Hidden Charges
  The practice of “skimming over the details” is still sadly present in annuity sales, and many brokers may “skim over” things like brokerage charges that may have left you unreasonably out of pocket.

Annuity stops paying when you die
Death benefits are important too. If you are married, then you may wish to take out a Joint life annuity instead of a Single Life Annuity. But is that what happened when you bought your own?