No Win No Fee Pension Claims
Pensions mis-selling claims continue to reach new heights. More Britons are complaining of collective investment schemes under-delivering on their promised results.
Due to poor financial advice, many pensioners have lost part or all of their money to these funds.
Technically, no institution sells pension funds. However, they sell the idea of huge investment profits in self-invested personal pensions (SIPPs).
Due to the economic and employment climate in the country, pensioners consider SIPPs a stronger suit for their pension growth.
Unfortunately, financial misinformation has led many pensioners to lose their money in the process. How much do you lose? You can claim all these back through a mis-sold pension claim.
To make your SIPP perform better than your employer’s pensions, you must invest a huge part or all of your pension money. If you have a pension fund with more than £500,000 to last for 20 years, you must invest at least £100,000-£300,000 to earn bigger than your employer’s pension.
Unfortunately, you will lose about 65-80% of the investment value in most unregulated collective investment schemes (UCIS).
In cases where pensioners invest about 90% of their pensions, they lose almost everything they saved.
Some funds ask for yearly service fees. These may cost about £20 or so every year.
If you have invested for quite a long time in a proper SIPP, then five years would mean you have spent £100 on your fund.
You can claim compensation for mis sold pension service charges. This is extremely important especially if you have invested years into the fund.
It is possible you might have lost £400 for long-term pension funds.
Financial advisers will always tell pensioners to consider topping up their account. Most unregulated collective investment schemes will provide top-up customers incentives such as a 5-10% guaranteed fund addition for the value they add.
You can claim for these additional top-ups as well. However, you cannot demand to receive the incentive bonuses unless you have receipts to serve as official documentation.
Investment schemes may include a “compulsory” insurance product they provide. This pension, whether mis-sold or not, will vary in costs.
You can refund some payment protection insurance (PPI) policies if you prove the financial adviser sold it without investigating your eligibility.
If you’ve started paying for the insurance, you can refund your repayment amounts as well. You can refund the entire policy if you have finished paying for it.