Did you move your retirement fund away from the Greater Manchester Pension Fund?
It may come as no surprise to learn that negligent financial advisers have been targeting people with rare and valuable defined benefits pensions like those from the GMPF for years, leading many people to transfer away, giving up valuable benefits in the process.
Often, this may have been on the promise of more money in retirement, better access to tax-free cash, or for alternative death benefits.
But a recent review by the watchdogs at the FCA revealed that less than 50% of transfer advice to move away from Final Salary pensions was found to have been suitable.
In fact, people who transfer such pensions as many as 10 years before they intend to retire, may lose up to 50% of their total pension over time.
Can you make a claim?
Risk and undetected losses
People who move their pensions from schemes like the Greater Manchester Pension Fund often don’t realise the risk they have undertook, and how much money they may have lost by moving (afterall, the pension pots often appear as if they are growing).
Worse still, many people were persuaded to make pension investments that put their money at further risk in a volatile market, open to the effects of a volatile market and big events like Brexit, cause many people’s pension to grow at rates well below their Critical Yield, and even lose money.
In many cases, losses in the thousands can remain undetected until a conversation with a Get Claims Advice case assessor.
Get Claims Advice
We set up Get Claims Advice Ltd to fight for people who have been mis-sold their pensions and stand to lose money because of it. A specialist firm, we only deal with financial negligence cases, using our extensive knowledge, experience and strategy.
Our team are dedicated to winning claims, and it’s meant that we’ve recovered over £47 million* on behalf of our clients, as well as appearing on ITV Tonight documentaries as specialists in pension mis-selling cases.
Always working on a No Win – No Fee* basis, we don’t believe clients should have to pay upfront for a chance at justice over their pensions, and we offer anyone with concerns about their pension a FREE initial assessment to see if they can make a claim.
Don’t take pension mis-selling lying down. Find out if you can make a claim for compensation with Get Claims Advice.