If YOU took advice from Active Wealth UK Ltd, are you ready for a second opinion on that advice? You may be entitled to make a claim!
Late 2017 had the financial news outlets filled with concerns over the pension transfer advice being given to British Steel Pension Scheme members, with comments made that some were subject to “fear tactics” in order to transfer pensions away from British Steel.
Mentioned often and even summoned by MPs from the Work and Pensions Select Committee, Active Wealth UK Ltd has been cited as at the “centre of the British Steel saga”, and after voluntarily agreeing with the financial services watchdog to cease giving new advice on pensions, Active Wealth is now in liquidation.
Timeline of events: Active Wealth UK Claims
2014 - Active Wealth (UK) Ltd
28 July 2014 saw Active Wealth (UK) Ltd, born in Glossop.
2017 - British Steel Pension ``Problems``
In 2017, the situation with the British Steel Pension Scheme (BSPS) began to come to a head. Due to restructuring, pension scheme members were given a few choices, including staying with the old scheme, moving to a new scheme, or leaving completely.
We now know that many financial advisers took advantage of this, using “fear tactics” to drum up big money transfers away from British Steel, despite it often not being in the pension holder’s best interests.
2018 - Mis-selling Stats
January 2018 brought the news that an estimated 1 in 3 transfers away from BSPS may have been mis-sold.
2018 - Liquidation
Finding itself at the centre of the storm over some of the advice it gave to BSPS members, Active Wealth (UK) Ltd went into liquidation.
Did you know, 1in3 transfers away from BSPS may be able to claim
A scary thought, but estimates say that 1in3 transfers away from British Steel pensions may have been wrong.