No Win No Fee Pension Claims

The Financial Ombudsman Service (FOS) had confirmed the increasing mis-sold pension claims across the United Kingdom.

Financial advisers and scammers prey on unsuspecting retirees to siphon money from their hard-earned pensions. As a result, tens of thousands of UK employees and pensioners have lost a huge chunk of their pension money in the process.

How exactly do you make an effective, time-efficient pensions claim? Here are the steps you can take to start today.

They Told You It’ll Give You Huge Returns In N Years

Commission-basis financial advisers pursue high work volumes to maximize their profit. Unfortunately for pensioners, it means they will strive to sell incompatible products.

It is possible you have let your financial adviser tell you the best course of action for your pensions. In fact, they showed you the freedom and huge returns from self-invested personal pensions (SIPPs).

Unfortunately, they never mentioned the fund only speculates the investment returns. To make things worse, you never knew in detail the fund-growing investment vehicles and their performance.

Your lack of important information from the financial adviser legitimizes your mis-sold pension claim.

An Employer’s Pension Awaited But They Said SIPP Was Better

Employer’s pensions offer defined figures in both contributions and benefits. If your financial adviser was working towards your pension wellness, he or she will advise going with the employer’s pension programme.

SIPPs do not have any guarantees. Whether they are regulated or unregulated collective investment schemes, the returns are all speculations.

Most regulated funds have guarantees. Still, these do not offer a definite amount of future pensions contribution unlike employer’s pension programmes. If you were told SIPPs were better, then you have a legitimate claim

They Never Said Anything About FCA Regulation

Some financial advisers and scammers work with unregulated collective investment schemes (UCIS). Many of these exist in the country.

Unfortunately, many fall prey to these funds due to the promised high fund returns for investment. Because the Financial Conduct Authority (FCA) does not regulate their activities, investors have no strong legal backing in case things go awry.

Despite the huge UCIS successes published on the news, it is still a high-risk investment. If your did not get your promised returns from the UCIS, you can file a claim against your financial advisers. Alternatively, you can press the claim against the financial adviser’s parent institution too.

I Contacted the FOS And Am Waiting For Results

The FOS has a special process and form to fill out for claimants. Fill in the information as best you can. Then, the Ombudsman’s teams will handle the entire process.

It is likely you will receive news after 6-8 weeks after your submission. You may need to take a few hours from your workday to file the complaint.

I Have No Time to Make a Claim, What Do I Do?

In case you cannot make a claim, you can ask help from third-party organisations working on a contingency basis. If they fail to get your refunds in full, you pay them nothing.