Did you transfer a Nestle UK defined benefit pension?
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While Nestle’s DB Core and DB CorePlus pensions are now closed to new members, they were both Career Average pensions – a type of Defined Benefits pension scheme that means that those that retire on the scheme are promised a guaranteed income in retirement.
That’s a promise to pay scheme members NOT to come to work one day – sound good?
Pensions like these are pretty rare these days, especially in the private sector, as they are generally expensive for employers to run due to the high promises.
Even though scheme members don’t have to pay annual upkeep charges to keep the scheme going, they are protected up to 90% by the Pension Protection Fund too, making defined benefits schemes like the Nestle UK pension fund some the safest around.
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.
Transfers away from the Nestle UK pension fund
Despite the huge plus-points awarded to defined benefits schemes like these, some people still transfer away from Career Average pensions.
Some of them may have good reason to; in certain (thankfully rare) situations, it may be beneficial to transfer, such as long-term sickness, a shortened life expectancy, or not having a spouse or dependants to worry about.
But many people may have been persuaded to transfer away from Nestle’s pension scheme for the wrong reasons, or given unrealistic or inflated ideas about how much money they can generate by transferring.
Some of the advice people have received may have been negligent, not following the FCA’s rules and regulations in order to ensure the suitability of a pension transfer, ensuring it is truly in a person’s best interests.
Can you make a claim?
If you transferred your UK Nestle defined benefits pension, then you may have been mis-sold.
Defined benefits pension transfers are rarely considered to be suitable, and it could be that you have exposed your pension to risks you weren’t expecting, and lost benefits you were not fully aware of.
To find out if you can make a claim for a mis-sold pension transfer, contact the team at Spencer Churchill Claims Advice for a free initial assessment.
Have a question about pension transfer?
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Ready to make a claim?
Think you’ve been mis-sold your pension transfer? Click below to take the first step to making a claim
What makes a pension transfer mis-sold?
Moving a final salary or other defined benefit pension is rarely advisable, except in certain situations.
While moving your pension may earn your adviser big fees and commissions, you may lose more than you hoped:
Do you know how people complained about mis-sold investments and pensions in the last year?
A lot. Over twenty thousand complaints were made about mis-sold pensions and investments in 2020/21, a figure which had doubled since the year before.. It’s no secret how serious this problem is, and it just seems to keep getting worse.
Have you been a victim of financial mis-selling?
Reaching out for help is never easy,
especially if you’ve been misled in the past.
But getting in touch with us won’t commit you to anything. We want to toss you a lifeboat and guide you through the choppy waters of the financial ocean, not leave you struggling to stay afloat. Our experts are here to offer advice and support on financial claims. We know what we’re doing and you can trust that if you’ve got questions, we’ve got answers.
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Spencer Churchill Claims Advice will:
- Speak to you in plain English
- Provide you with a dedicated claims specialist
- Pay attention to the small details of your case
- Keep you up to date with the status of your claim
- Make sure you understand our charges
- Do absolutely everything we can to win your claim
How does our claims process work?
It’s worth finding out if you can get your money back. Here’s how our simple process works:
What types of claims do we handle?
Find out how much you could claim today
Ready to take the next step? We’re here with clear, no-pressure advice. Give us a call today to find out if you have a valid claim
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