Transferred your British Steel Pension after advice from Active Wealth (UK) Ltd? They seem to have lost their Pension Advice authorisation relating to their conduct over BSPS transfer advice, and are now in liquidation.
If YOU took advice from Active Wealth UK Ltd, are you ready for a second opinion on that advice? You may be entitled to make a final salary pension transfer claim!
Late 2017 had the financial news outlets filled with concerns over the pension transfer advice being given to British Steel Pension Scheme members, with comments made that some were subject to “fear tactics” in order to transfer pensions away from British Steel.
Mentioned often and even summoned by MPs from the Work and Pensions Select Committee, Active Wealth UK Ltd has been cited as at the “centre of the British Steel saga”, and after voluntarily agreeing with the financial services watchdog to cease giving new advice on pensions, Active Wealth is now in liquidation.
Check to see if you can make a claim for negligent financial advice by having a chat with our experienced case assessors for free using our call-back service.Get started now
If you did indeed take advice from Active Wealth, you wouldn’t be alone in reading about compensation, as the FSCS has now paid out over £3.5m in claims over Active Wealth (UK)!
The team at Spencer Churchill Claims Advice are specialists in mis-sold pension claims.
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Several financial advisers and the FSCS have been paying out compensation for the mis-selling of final salary pension transfers few years, with Spencer Churchill Claims Advice often leading the claim on a No Win – No Fee* basis.
If you transferred a final salary pension such as from British Steel then you may have been mis-sold.
Final salary pensions are considered to be gold-plated, and offer a guaranteed income in retirement.
Transferring may have needlessly risked your defined benefits, and you may have lost money without realising it.Speak with an expert
In 2017, the situation with the British Steel Pension Scheme (BSPS) began to come to a head. Due to restructuring, pension scheme members were given a few choices, including staying with the old scheme, moving to a new scheme, or leaving completely.
We now know that many financial advisers took advantage of this, using “fear tactics” to drum up big money transfers away from British Steel, despite it often not being in the pension holder’s best interests.
January 2018 brought the news that an estimated 1 in 3 transfers away from BSPS may have been mis-sold.