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Home / Mis-Sold Pensions / Final Salary Pension Transfer Claims / BP Pension Plan Transfer Claims

Did you transfer a BP pension plan?

You may be able to make a claim – contact our team!

You may have been mis-sold. Fill out your contact info below and we’ll be in touch at the best time for you
NO OBLIGATION & COMPLETELY FREE!

SOME BP PENSIONS ARE FINAL SALARY SCHEMES

BP is a pretty old company now, and like many older, larger companies, offered some valuable final salary pension schemes to some of its employees.

Final Salary pension schemes are different to many personal or Defined Contribution schemes, in that they promise a guaranteed income in retirement – not usually something to be sniffed at!

Like with all Final Salary salary pensions, scheme members don’t have to pay annual fees to run the scheme, and all the investment risk rests on the shoulders of the schemes trustees.

Pensions like these are considered to be some of the safest and most valuable on offer. So why do people give them up?

IS IT RIGHT TO MOVE A BP PENSION?

Its a difficult question, and that’s why it is usually up to a trained, qualified and regulated financial adviser to give advice about.

In most cases, it is considered unsuitable to move a defined benefit type of pension because of the extra risks, costs and the loss of some often irreplaceable benefits.

But many financial advisers have given negligent financial advice over such pensions, taking large fees in the process, while some marketing companies earn commission for arranging transfers too, even when they aren’t in the client’s best interests.

The rules on pension transfers say that advisers must start from the assumption that a transfer away from schemes like this is the wrong way to go.

ALREADY TRANSFERRED A BP FINAL SALARY PENSION?

We’re sure you felt like you had your reasons, but final salary pensions are rarely considered to be in a person’s best interests, and it could be that you took negligent financial advice to transfer.

Defined benefit pension transfers often put pensions at risk, and you may have lost money without even realising it.

Find out if you can make a claim with a FREE initial assessment with the team at Get Claims Advice Ltd.

Speak with a Claims Advisor

Did you know, we’re specialists in mis-sold pension transfer claims?

If you needed any more reason to choose Get Claims Advice, we’re experienced with defined benefit claims.

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Ready to make a claim?

Think you’ve been mis-sold your pension transfer? Click below to take the first step to making a claim.

MAKE A CLAIM

Have a question about pension transfer claims?

Ask us any question about your situation and we’ll be in touch at the best time for you – COMPLETELY FREE!

What makes a pension transfer mis-sold?

Moving a final salary or other defined benefit pension is rarely advisable, except in certain situations. While moving your pension may earn your adviser big fees and commissions, you may lose more than you realised.

SPEAK WITH A CLAIMS HANDLER
a Sophisticated investor
INCOME IN RETIREMENT Final Salary & other defined benefits pensions practically guarantee you an income in retirement. Does your new pension do that? Doubtful…
Compensation
INDEX LINKED Defined Benefits pensions tend to keep pace with inflation, meaning no matter what happens to the economy, you’re retirement income is better protected.
High net worth individual
DEATH BENEFITS By transferring your pension to a private scheme, your income in retirement will depend on how well your investments perform, at the mercy of the markets.

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