Self-Invested Personal Pension (SIPP’s)
SIPP’s are usually only suitable if you have a large pension fund, wish to manage it and its content. SIPP’s can be more expensive than Private Pension Plans and can present a higher risk.
If you had several pensions and been advised to transfer them into a SIPP, you may have been mis-sold your pension.
The long-term returns from a SIPP relies on where the money is invested. With a SIPP, you can invest directly in a range of different assets, including:
- Stocks and shares in the UK
- Foreign stocks and shares
- Commercial property
- Gifts and bonds
- Investment trusts
- Unit Trust
Many people have been advised to transfer their pension fund into high risk unregulated assets within the SIPP.
The term ‘unregulated assets’ refers to investments that, unlike those listed above’ are not protected by any kind of financial regulation. This includes the Financial Conduct Authority, Financial Ombudsman and Financial Service Compensation Scheme. Unregulated assets range from the questionable to the downright bogus which can result the loss of all your pension money.
If any of the above applies to you, please contact us now for a free check, you may be entitled to compensation plus interest. We work on a no win no fee basis, so you have nothing to lose by making a claim. If your claim is successful, we charge 20% + VAT (24% Total).
Free Standing Additional Voluntary Contributions (FSAVC)
If you were a member of company pension scheme and advised to contribute to a FSAVC you may have been mis-sold.
Most company pension schemes offered a way of topping up the pension with a in house Additional Voluntary Contribution (AVC). Many company pension schemes offered a discount on management charges within their in house AVC. This lower management charge ensured that more of your pension contribution went into your pension fund.
In many instances members of company pension schemes were recommend to take a FSAVC rather than the in-house AVC. The charges on the FSAVC’s were higher and commissions were paid to the Financial Adviser resulting in less of your contribution going into your pension fund.
It was a requirement that Financial Adviser referred you to company pension scheme AVC before recommending a FSAVC.
If this sounds familiar contact us now for a free check as you may be entitled to compensation plus interest.
We work on a no win no fee basis. so you have nothing to lose by making a claim. If your claim is successful, we charge a fee of 20% + VAT (24% Total).