BP Pension Plan Transfers
Wondering about your BP pension plan transfer? Dive into our guide to understand if you’ve been affected and how you might claim compensation.
We’ll have a specialist call you back for a no obligation chat about your financial claim
Let’s Rewrite Your Financial Story
We are here to rewrite the book for you. And luckily we are pretty damn good at creating happy endings.
We are here to rewrite the book for you. And luckily we are pretty damn good at creating happy endings.
When you get let down by someone you thought you could trust, it can leave its mark on you, emotionally and physically.
We are committed to transparency and fairness in the way we conduct with clients, including how we charge for our claims services.
Did You Transfer A BP Pension Plan?
You May Be Able To Make A Claim – Contact Our Team!
You may have been mis-sold your pension. 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 because they are defined benefit schemes. 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 pension transfers are rarely considered to be in a person’s best interests, and it could be that you took negligent financial advice to transfer and may have been mis-sold your pension.
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 Spencer Churchill Claims Advice.
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.
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.
Do you know how people complained about mis-sold investments and pensions in the last year?
A lot. Over twenty thousand complaints were made about mis-sold pensions and investments in 2020/21, a figure which had doubled since the year before.. It’s no secret how serious this problem is, and it just seems to keep getting worse.
Have You Been A Victim Of Financial Mis-Selling?
Reaching out for help is never easy,
especially if you’ve been misled in the past.
But getting in touch with us won’t commit you to anything. We want to toss you a lifeboat and guide you through the choppy waters of the financial ocean, not leave you struggling to stay afloat. Our experts are here to offer advice and support on financial claims. We know what we’re doing and you can trust that if you’ve got questions, we’ve got answers.
Spencer Churchill Claims Advice featured on:
Spencer Churchill Claims Advice Will:
- Speak to you in plain English
- Provide you with a dedicated claims specialist
- Pay attention to the small details of your case
- Keep you up to date with the status of your claim
- Make sure you understand our charges
- Do absolutely everything we can to win your claim
How does our claims process work?
Our claims process is dead easy, so we can sum it up in the four simple steps below:
What Types Of Claims Do We Handle?
Speak to an expert today
We have decades of experience in helping people claim back money that is rightfully theirs. Whether you want to make a mis-sold pension claim, have questions about a mis-sold investment, or you’re just looking for some advice you can trust – we’ve got you covered. Reach out to our team today for a no-obligation, completely free chat.
Office Hours:
Monday: 8:00am–6:00pm
Tuesday: 8:00am–6.00pm
Wednesday: 8:00am–6:00pm
Thursday: 8.00am–6.00pm
Friday: Office Closed