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How does a final salary pension work?

02/06/2021

What is a final salary pension? When it comes to our retirement, making sure that every penny of our pensions count is critical. Final salary pensions guarantee you an annual income for the rest of your life and are frequently offered to those working in the public sector i.e. the health, education and government services. … Continued

What happens if my pension provider goes bust?

02/06/2021

How do I protect my pension if my pension provider goes bust? When it comes to something as precious as our pension, it can be devastating if something happens to it – especially if it’s completely out of our control. Fortunately, there are a number of government regulations in place to make sure that if … Continued

Mis-sold pensions on the rise in financial mis-selling claims

01/06/2021

Estimated £1 billion compensation for mis-sold pension victims Mis-sold pension compensations are anticipated to hit £1 billion by 2022 but this is likely to be a reduced figure as victims are given reduced payments due to delays in complaint management, as reported in the FT Advisor. The Financial Services Compensation Scheme has dished out an … Continued

Mis-sold SIPP claims set to rise by 89% in 2021

27/04/2021

Claims from victims of mis-sold SIPP plans are forecast to rise by 89% to an eye-watering £336million in 2021. The Financial Services Compensation Scheme (FSCS) has raised its total compensation budget from £700m in 2020 to over £1bn in 2021, with over a third of claims stemming from mis-sold SIPPs alone.   Feeling the pandemic … Continued

Seven ex-footballers in mis-sold pension battle

11/01/2021

Seven ex-footballers in mis-sold pension battle 7 former footballers have launched a High Court claim for money losses relating to mis-sold pension advice provided by Kevin Neal, a former director of a series of defunct financial advice firms. Mr Neal had already been previously sued for £100,000 by former England and Newcastle striker, Alan Shearer, … Continued

£1.7m in claims against Kingsway Wealth Management

24/11/2020

Kingsway Wealth Management   Kingsway Wealth Management is facing a rising number of pension-switching claims since defaulting with the lifeboat scheme earlier this year. The failed IFA has seen a steep rise in compensation claims since May, with a total of £1,729,085 paid on 35 claims so far according to the Financial Times. Kingsway became … Continued

Court grants appeal against Carey Pensions in mis-sold SIPP Lawsuit

15/10/2020

Carey Pensions Court Appeal   Russell Adams, who two years ago decided to take Carey Pensions (now better known as Options Pensions) to court over a mis-sold SIPPs (Self Invested Personal Pensions), claiming they had used a spanish-based unregulated introducer for investments in Store First Unit Pods which were deemed “worthless” and “unsuitable”. Has now … Continued

image outside the Court of Justice

Berkeley Burke Court of Appeal case dropped by administrators

07/10/2019

RSM, who have taken over as administrators of Berkeley Burke SIPP have taken the decision to stop their fight through the Court of Appeal over their SIPP due diligence case. For the last couple of years, Berkeley Burke have been in an ongoing legal battle after the Financial Ombudsman Service found them at fault for … Continued

3 quick stats that show why you should check your pension advice

15/05/2019

Complaints and claims about pension transfer and investment advice are on the rise again… With so many of us being told we’d be better off moving our pensions elsewhere, either after cold-calls or through financial advisers, it’s not too surprising to see there’s been an increase in complaints about pensions. What may be surprising is … Continued