Mis-sold final salary transfer claims

Yes, you can. If your pension transfer was based on poor or misleading advice, you may be entitled to compensation. This includes cases where you left a secure final salary scheme or were badly advised to invest in high-risk or unregulated schemes. Contact our team for a no-obligation review of your case.

The amount of compensation varies depending on your individual case. Factors like the size of your pension pot, the nature of the mis-selling, and the financial impact on you will influence the final amount. Our team will assess your situation and work to recover the maximum compensation possible.

There are a number of signs that you may have been mis-sold a pension. These include:

• You were advised to transfer out of a company pension scheme when this was not in your best interests.
• You were not given enough information about the risks of transferring your pension.
• You were pressured into transferring your pension.
• Your financial advisor did not take into account your individual circumstances.

If you think you may have been given poor pension transfer advice, get in touch and our experts can assess your case to see if you have a valid claim.

Common examples include:

• Transferring out of a final salary or defined benefit scheme into a less secure pension plan.
• Being advised to invest in high-risk schemes such as overseas properties, storage pods, or unregulated funds.
• Experiencing losses due to high fees or poor fund performance.

Yes, there are strict time limits. Generally, you have six years from the date of the advice or three years from when you became aware (or should have become aware) of the issue. If you’re unsure, speak to us today – we’ll confirm whether your claim is still valid.

Starting your claim is simple. Contact us for a free consultation, and our team will guide you through the process step by step. We’ll review your case, handle all the paperwork, and work to secure the best outcome for you.

We’re proud to have recovered millions in compensation for clients affected by mis-sold pension transfers. Our team specialises in handling complex cases involving final salary schemes, high-risk investments, and poor financial advice. Contact us today to learn more about how we can help you.

Unfortunately, mis-sold pension transfers are more common than you might think. Thousands of complaints are made each year about poor financial advice, with many people unaware they’re owed significant compensation. Don’t wait – speak to our experts today for a no-obligation review.

If your pension provider goes into administration, you may still be able to recover your money through the Financial Services Compensation Scheme (FSCS). Our team can help you understand your options and guide you through the claims process.

Yes, you can. Even if you’ve already accessed your pension funds, you may still have grounds for a claim if the transfer was mis-sold. Contact us to discuss your situation, and we’ll let you know if you’re eligible for compensation.

We operate on a no-win, no-fee basis, meaning you won’t pay a penny unless your claim is successful. We’ll explain everything upfront so you’ll never face unexpected charges or hidden fees.

In most cases, the claim will be made against the advice given by the financial adviser involved. In cases where advice was given, financial advisers have the responsibility to collect enough information about their clients and give advice in their best interests accordingly.

Once we’ve built the claim, we first take it to the financial adviser if they are still running.

They can either uphold the complaint and offer compensation, or reject it.

If rejected, we can then take the claim to the Financial Ombudsman Service – an independent body who will decide if the claim is valid, and who may force the IFA to pay compensation.

If the financial adviser is no-longer trading, it may be that we take the claim to the Financial Services Compensation Scheme.
Of course, every defined benefit pension claim is a little different, but generally claims end up with the adviser, the FOS or the FSCS.

And If you’d prefer, you can make a claim to your firm directly or go through the Financial Ombudsman Service, the Financial Services Compensation Scheme or The Pensions Ombudsman.

To help we have created a mis-sold pension claim templates available online to download to help you get a better picture and guide you through the process.

If you were convinced to transfer out of a final salary pension, there’s a chance you may have been mis-sold. Key signs include:

• You were advised to transfer despite risks – Final salary pensions provide guaranteed income, so leaving them should only happen in rare cases.
• You lost money after the transfer – Even if your pension grew, you could still have incurred losses compared to staying in the original scheme.

It’s not too late to act. Our team specialises in recovering mis-sold pension compensation, helping you get back what’s rightfully yours.

Financial advisers are supposed to collect enough information to advise of final salary transfers correctly, taking into account everything about the transfer to make sure it is suitable.

But many advisers give unsuitable advice.

Sometimes this is because they haven’t collected enough information, or because they’ve not done their due-diligence in checking out the new pension arrangements.

In some cases, they may have a conflict of interest and may benefit from the transfer, either through large advice fees, commissions or because of a vested interest in the receiving investment schemes.

Of course, other factors and parties may be involved, but generally the buck stops with the adviser who had the professional responsibility to make sure the transfer was in the client’s best interests.

Here at Spencer Churchill Claims Advice, we have experience recovering money from mis-sold pensions on behalf of our clients, many of which were wrongly advised to transfer their final salary pension.

If you (with or without help from Spencer Churchill Claims Advice) can prove that your financial adviser or new pension provider acted negligently and against FCA rules, compensation is likely.

All of our claims start with a free initial assessment, and operate on with no upfront costs.

You can learn more about mis-sold final salary pension transfers through the UK financial services Regulator at the FCA.

Absolutely. In fact, a huge number of the mis-sold pension claims we deal with occur due when our client transferred after receiving a cold-call or ‘Free Pension Review’.

In many cases, the call came from an unregulated pension introducer – a marketing company whose job it was to generate new business for pension companies, advisers and investment companies.

Often, these companies are not FCA regulated, and a claim cannot be made against them. However, the chances are that if you were unsuitably advised to transfer a final salary pension , you may be able to make a claim against the financial adviser involved (if there was one) or the new pension company on due diligence grounds.

If you worked for the local authorities in West Yorkshire you may have had a defined benefit pension or final pension provided by the West Yorkshire Pension Fund Scheme.

Some people may have been advised to move their pension from the West Yorkshire Pension Fund on  the advice they could make more money elsewhere.

For some, this may have been accurate advice. But the FCA (Financial Conduct Authority) often state that this is seldom a good enough reason to transfer a pension because of the risk-to-reward balance.

So, if you have moved your pension from the West Yorkshire Pension Fund scheme you may have a claim. We advise you to contact one of our case handlers to see if you have a claim to make.

Transfers away from any valuable final pension scheme is rarely considered to be the right choice. This is because you’re transferring from a relatively safe scheme to, often, volatile investment markets.

If you worked for British Airways and benefited from the British Airways Pension scheme before being advised to transfer, you may be able to make a claim, which is something we’ll be able to explore.

We advise you to contact one of our case handlers to see if you have a claim to make.

No, it is not always wrong to transfer out of a company pension scheme. However, it is important to get independent financial advice before you do so. This is because there are a number of risks associated with transferring your pension, such as the loss of guarantees and the potential for higher charges.