Pension mis-selling refers to the provision of unsuitable financial advice regarding pension transfers or investments, often accompanied by exaggerated promises of gains. This malpractice can lead to smaller-than-expected retirement pension funds. If your pension for retirement appears to have been mis-sold, you could be eligible for compensation.
Financially inexperienced investors are frequently enticed by the appealing promises of certain pension schemes. Unfortunately, these schemes often carry high risks, potentially leading to significant financial losses. Additionally, accessing pension funds prematurely can attract hefty tax liabilities.
Despite the UK Chancellor's assurances in 2015 that pension mis-selling concerns were baseless following new reforms, subsequent evidence indicates that regulations were inadequate to safeguard the vast number of individuals with access to their pensions. Since then, there has been a notable increase in the number of mis-sold pension claims in the UK.
If you were advised to transfer your pension from a previous employer’s scheme to a personal pension, and this move was not suitable for your circumstances, you might have a valid claim for compensation. Great Claims assists individuals who have received poor advice about transferring away from a previous employer’s pension scheme, helping them to seek rightful compensation.
Pension mis-selling refers to the provision of unsuitable financial advice regarding pension transfers or investments, often accompanied by exaggerated promises of gains. This malpractice can lead to smaller-than-expected retirement pension funds. If your pension for retirement appears to have been mis-sold, you could be eligible for compensation.
Financially inexperienced investors are frequently enticed by the appealing promises of certain pension schemes. Unfortunately, these schemes often carry high risks, potentially leading to significant financial losses. Additionally, accessing pension funds prematurely can attract hefty tax liabilities.
Despite the UK Chancellor's assurances in 2015 that pension mis-selling concerns were baseless following new reforms, subsequent evidence indicates that regulations were inadequate to safeguard the vast number of individuals with access to their pensions. Since then, there has been a notable increase in the number of mis-sold pension claims in the UK.
If you were advised to transfer your pension from a previous employer’s scheme to a personal pension, and this move was not suitable for your circumstances, you might have a valid claim for compensation. Great Claims assists individuals who have received poor advice about transferring away from a previous employer’s pension scheme, helping them to seek rightful compensation.
Want to know more about or get started with a claim? Fill in the form and we will get back to you as soon as possible.
Great Claims offers advice and support for progressing pension mis-selling claims for individuals who have experienced the following issues:
Investment of their pension funds in high-risk schemes that have subsequently failed. This includes investments in schemes such as off-plan property developments, storage pods, carbon credits, and similar ventures that carry high risks.
Lack of appropriate pension advice, specifically regarding entitlement to an enhanced annuity. Many individuals are not properly informed about their eligibility for enhanced annuities, which can offer greater benefits due to health or lifestyle factors.
Being advised to transfer out of their existing pension scheme into another scheme that ultimately proves to be inferior. This situation often arises when individuals are recommended to move their pension funds without being fully aware of the potential drawbacks or the superiority of their existing scheme.
In each of these scenarios, Great Claims provides professional guidance and assistance in pursuing claims for compensation due to mis-sold pensions.
Want to know more about or get started with a claim? Fill in the form and we will get back to you as soon as possible.