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Home / Mis-Sold Pensions / Final Salary Pension Transfer Claims / Did You Transfer your pension out of the West Yorkshire Pension Fund?

Moved your pension from the West Yorkshire Pension Fund Pension Scheme?

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!

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.

THE WEST YORKSHIRE PENSION FUND & FINAL SALARY PENSIONS

One of the fairly common rewards for working on behalf of a local council or government scheme is a valuable Defined Benefit pension, sometimes even a Final Salary pension. In the case of people who worked for local authorities in West Yorkshire, this was usually provided by the West Yorkshire Pension Fund Pension Scheme.

Final Salary pensions are considered safe and valuable, because they promise a guaranteed income in retirement, one that won’t run out before the member dies no matter how long they live.

They don’t cost the member to run either, and are protected up to 90% of their value by the Pension Protection fund.

Final salary pension schemes like those from the West Yorkshire Pension Fund Pension Scheme represent relative certainty when it comes to retirement options – you know what you’re getting, and generally, you don’t need to worry about it.

So why do people transfer final salary pensions?

REASONS PEOPLE TRANSFER THEIR PENSIONS

Let’s be clear, there are some situations where a final salary pension transfer might be in somebody’s best interests.

For instance, if they have a shortened life expectancy and therefore want a larger sum earlier, and don’t have a spouse or children to benefit from the pension if it stays where it is, this may be a reason to move it, if other factors are involved.

But these circumstances are rare.

In most cases, people move their local authority pension because they are told they could make more money by investing it themselves.

This may be true for some people, but the FCA rules often state that this is seldom a good enough reason to transfer a pension, as it exposes it to too much risk in comparison to the potential reward.

As a result, many people have received negligent financial advice to move their pension, possibly including former members of the West Yorkshire Pension Fund Pension Scheme.

CAN YOU MAKE A CLAIM?

Thousands may be able to make a claim for a mis-sold pension transfer away from final salary benefits such as West Yorkshire Pension Fund Pension Scheme, after receiving negligent pension advice.

We can help you find out with a FREE Initial assessment to see if you can make a claim on a No Win – No Fee* basis.

Speak with a Claims Handler

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 transfers?

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

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.

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 hoped:

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 are index-linked, in order to help them keep pace with inflation. Just one more reason why Defined Benefits are considered to be some of the most valuable pensions around.
High net worth individual
DEATH IN SERVICE BENEFITS These types of pensions usually end up with your partner or children if you die early. Many personal pensions give no-such benefits.

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Can you make a claim?

We’ve recovered £million for our clients. Fill out your contact info below and we’ll be in touch at the best time for you

NO OBLIGATION & COMPLETELY FREE!

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.

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