Retirement & Pension Planning Services, and British Steel Pensions

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RETIREMENT AND PENSION PLANNING SERVICES LIMITED

Barnsley based financial advice firm, Retirement & Pension Planning Services Ltd, was one of the IFAs caught up in the British Steel pensions fiasco, where many people were pressured or persuaded to transfer their valuable BSPS pensions.

Often this involved people transferring from the relative safety of the BSPS (ready to be taken over by the PPF), or moving to BSPS, to a completely new private pension arrangement, which exposed the retirement fund to much more risk in most cases.

Many companies lost their permission to give advice after the FCA investigated some of the practices surrounding British Steel pension transfers.

Two of the companies that had their permissions suspended went into insolvency, with Retirement and Pension Planning Services Limited entering into liquidation.

If you transferred your British Steel pension on the advice of Retirement and Pension Planning Services Limited, or with any other firm, you may have been mis-sold, and may be entitled to make a claim.

Timeline of events: Retirement and Pension Planning Services Ltd

2009 - Company Formed

Retirement & Pension Planning Services Ltd is formed

2017 - FCA permissions

In December 2017, the company agrees with the FCA that it will cease pension transfer work.

2018 - Liquidation

The firm contacts the FCA to apply to cancel all permissions.

The company goes into liquidation, as news media links them to the British Steel pensions scandal.

Did you know, 1in3 transfers away from BSPS may be able to claim

A scary thought, but estimates say that 1in3 transfers away from British Steel pensions may have been wrong.

READ MORE

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