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Did You Transfer Your British Coal Pension?

Final salary pensions are a scheme provided by businesses, which takes a portion of your final salary or an average of your salary, based on the length of time you were at the company, offering you a guaranteed income.

Despite British Coals collapse in the 1990’s, many people still benefit from the scheme they set up for their employees. That being said, there were some who were advised and mis-sold on transferring their final salary pension, in favor of other alternatives, that they may not have been fully informed of. Do you suspect that you were mis-sold a final salary pension transfer by your financial advisor? If so the below information may be helpful.


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British Coal Final Salary Pension Transfer Claims

Have you had advice to transfer your final salary pension and are now unsure of your situation? Some of the reasons highlighted below have given Get Claims Advice cause for concern, and you may be eligible to claim: 

  • The representative did not perform due diligence in regards to your existing pension plan.
  • You were not made aware of any transfer fees.
  • You were not made aware of the risks involved with transferring
  • You were guaranteed performance-based returns.
  • You were enticed to take a tax-free lump sum
  • Your income has decreased over time
  • You have not been clearly informed that the amount ultimately received may be less than initially stipulated.

If any of the above apply to you, or you have any further concerns, you may be eligible to make a claim.

Make A Mis-Sold Pension Claim

Fill in the form below and one of our team will be in touch for a free, friendly, no-obligation chat to assess your situation.

We’ll go through your options, your rights to making a claim and discuss how we can move forward. And don’t worry, this a free assessment and we don’t take any up-front costs.

Get Claims Advice are a claims management company. You can do the claim yourself directly to the adviser or pension company for no charge. You can also approach the Financial Ombudsman Service and Financial Services Compensation Scheme for free if you wish for them to review your case, providing you have approached the adviser or pension provider first, and it falls within their remit.

Who are British Coal?

Originally formed in 1946, British Coal was primarily involved in the extraction and purification of coal deposits found throughout the United Kingdom. As the population was more reliant on this type of fuel at the time, British Coal was a large firm, but, as of 26th January 1997, the company formally ceased all operations. However, many ex-miners may still have been mis-sold final salary schemes in the past.


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Can You Claim for British Coal Mis-Selling Compensation?

If you had a mis-sold final salary pension transfer from British Coal, by being advised to transfer away from the scheme by a financial advisor, and you feel like they have not conducted the necessary research, or were contacted by a third-party urging/advising you to transfer your final salary pension away from British Coal. Then you could be eligible to make a claim. 


British Coal Complaints

You can make a claim yourself for free by approaching the financial advisor who advised you away from your final salary pension scheme with British Coal. You can also use the services of the Financial Ombudsman Service (FOS) or Financial Services Compensation Scheme (FSCS) if it falls in their remit.

Alternatively, you can speak to one of the specialist consultants at Get Claims Advice, who will be happy to take you through our free, no-obligation consultation, so we can discuss your options.


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