Did you transfer a final salary pension thinking you would get more in retirement?
Allan (58) was persuaded by a financial adviser to transfer his pensions back in 2013 – a move that included transferring a valuable and hard-earned Armed Forces pension. But Allan’s adviser did not make him fully aware of the benefits he would be losing by transferring, or that he would be risking his retirement. The advice Allan received caused him to lose thousands, putting his future retirement plans in doubt.
Thousands still unaware
Allan isn’t alone either, with thousands yet to realise they have taken bad advice and may have lost money. Hard-working people with valuable final salary pensions have been targeted for years, and persuaded to make transfers that often lose them money in the end. Most people don’t realise the potential loss they may have suffered when they transferred, as their new pension statements don’t show what’s been given up. The UK regulator is stamping out the bad practices, but what about the thousands of people that may still be out there?
Allan rescued his retirement with Get Claims Advice Ltd – specialists in pension mis-selling – who made his claim, which was awarded tens of thousands in compensation. He now enjoys regular holidays abroad.
Get Claims Advice has recovered over £50 million* on behalf of its clients from mis-sold pensions, and each claim started with a free, no obligation chat to help figure out whether they were mis-sold. If you transferred a final salary or other type of defined benefits pension you may be losing money, even if the new pension appears to be growing for now.
Book your free chat today and we will be in touch at the most convenient time for you.