Premier Childrens Services | Administration
A Premier Childrens Services investment sounded like a great plan, especially with the way in which it was sold to some SIPP investors, usually through a cold-call offering a free pension review.
But in reality, Premier Childrens Services was a high-risk investment, that while offering high returns or between 8% and 10% interest depending on how much was invested, posed a risk to people if they were not truly suitable for such a high-risk investment. On the 14th November 2016, Premier Childrens Services entered into administration, prompting calls from concerned investors to Get Claims Advice Ltd for help in getting their pension money back.
We're happy to say we were successful with many of the cases we took on, all on a NO WIN - NO FEE* basis, always against the negligent financial advice of a regulated adviser, who should have known better than to recommend a pension transfer to a SIPP, and an investment in PCS without proper due diligence checks. If YOU invested in Premier Childrens Services, you're entitled to a FREE Initial Assessment with our experienced Claims Handlers to see if you can make a claim too.
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Get Claims Advice are an market leaders specialising in mis-sold SIPP claims and claimed back a grand total of more than £37 million* for clients.
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Premier Childrens Services Updates & Information
Last Updated: April 2018
Premier Childrens Services remains in Administration, but we now know more about what may have happened with the investments. The Administrators (Stephen Clancy & Steven Muncaster) are tasked with providing regulated updates to investors as to their findings and proposals on how to ensure creditors are paid.
You can read more about the finding in our Premier Childrens Services timeline below...
Premier Childrens Services Timeline
Formation and Investment StatsFormed on the 17th May 2012, Premier Childrens Services was set up as a holding company to fund several child care facilities...
Premier Children Services described itself as an exciting new social care service with desires to become an innovate market leader in the world of children's social care, and sought investments through what is known as a "Loan Note" for either 3 or 5 years, in return for some healthy looking returns:
Example 1. £0-99,000 Investment: 3 years = 8% Interest 5 years = 9% Interest
Example 2. £100,000 + Investment: 3 years = 9% Interest 5 years = 10% Interest
Administration & fall outConsidering it is now clear some investors were not suitable for such a high-risk investment, PCS going into administration sounded like bad news...
While around 220 SIPP investors had their money wrapped up in Premier Childrens Services, it went into administration.
At the time, at least one SIPP provider wrote a letter to Premier Children Services clients, which stated:
"Please be aware that, given the circumstances, no further payments are now expected from PCS.
Therefore, if you were anticipating any sort of capital or interest payment into your SIPP which has not been received by 15 November 2016, it is unlikely that this will be paid."
Minutes from a board meeting detailed the ""financial difficulties of the company" and that "the company is or is likely to become unable to pay its debts".
*Figure calculated before deduction of fees charged at 24% inclusive of VAT. Correct as of 05.06.18