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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 a final salary pension transfer, and may be entitled to make a claim.Get started now
If you changed your pension with Retirement & Pension Planning Services Limited, you may be able to claim
Final salary pension transfers often mean the loss of defined benefits, including swapping a guaranteed income in retirement for more risk, and more fees. In many cases, people lose money in the transfer leaving them worse off in retirement.
If you transferred your final salary pension then you may have been mis-sold, and you could be able to make a claim for a mis-sold final salary pension transfer.Speak with an expert
In December 2017, the company agrees with the FCA that it will cease pension transfer work.
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.
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The FCA recently reviewed 154 pension transfers as part of an investigation into IFAs in 2018, and found less than 50% to have received suitable advice.Read More
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