UK PENSION COMPENSATION CLAIMS

We are a pension compensation claims firm that deals with shortfalls associated with contracting out of the state earnings-related pension (SERPS) scheme to join a private pension scheme many of which were mis sold and in addition we pursue claims for pension or endowment mortgage shortfall and for the mis selling of bonds.

Contracting out of SERPS

During the 1980’s millions of people were persuaded by private pensions firms that there was a better form of investment than the state earnings related pension scheme. Most of those that did change, even for a few years, have found that their pension on retirement is substantially reduced compared with the pension they would have received had their pension fund remained in the hands of the state. It may be possible to make pension compensation claims however whether the company that instigated the change mis-sold their financial product is a matter of fact, dependent on what they told the potential investor. In general terms the company should have carried out a detailed fact find and thereafter made full disclosure of all risks.

Mortgage Shortfall

Many pension or endowment mortgages were mis-sold in the 1980’s and 1990’s which has resulted in shortfalls whereby the fund available at maturity is insufficient to pay the outstanding mortgage loan off in full. Companies are required to advise their customers in writing, every two years, about the state of their fund and whether or not it is anticipated that it will be sufficient to pay off the loan at maturity. A green letter indicates that the fund is on target, an amber letter indicates that there are some concerns however a red letter indicates that there is likely to be a shortfall. Customers have two years after receipt of the letter to make a claim if the policy was mis-old. In general terms the company should have carried out a detailed fact find and thereafter made full disclosure of all risks.

Bond Compensation

Bond mis-selling usually occurs when a salesperson persuades an investor to move funds from a low risk investment to a potentially higher earning but higher risk investment that doesn’t in due course come up to expectations without fully investigating the investors personal circumstances and attitude to risk. Many investors were caught out by Precipice bonds which are also known as high income bonds which offered returns tied to the rise or fall of the stock market however the capital sum was not assured and was always at risk.

We are able to offer a complete service for pension compensation claims and our team consists of lawyers, accountants, actuaries and insurance consultants who are registered by the Financial Services Authority. If you were not properly advised at the time you bought your financial product you may have grounds for making a claim for compensation. For free advise without obligation just complete and send the contact form or call the helpline and we will provide you with free advise with no obligation. If after talking to us you decide to proceed no further you will not be charged for our advice.