The reality of pension mis-selling is very real. A large number of pension investors are receiving detrimental advice … evidence shows that the number of people affected is increasing every day.
From young people planning their pensions in advance, to older people approaching retirement, many Brits are falling victim to the latest financial scam to have hit the headlines – pension mis-selling.
Unless you are an experienced investor it’s easy to make mistakes. Lack of knowledge makes you vulnerable and open prey to these types of advisors.
What exactly is pension mis-selling?
First of all, pensions being mis-sold is nothing new. This was quite an issue back in the 1980s, when over a million people are thought to have been falsely encouraged to take out certain “personal plans”. As the years went by, time started to prove these plans to not be what was originally thought. As a result, a tremendous number of people were left in the lurch but have been issued compensation since, for being misguided.
I may have been mis-sold a pension, what do I do?
There is a possibility that your pension could have been miss advised but don’t wait until you want to draw your pension to find out. It will be too late then. Simply have a check carried out whether your investment is safe.
The good news is, there are steps you can take towards getting your money (and peace of mind) back
The first thing you need to do is get in touch with Expert Pension Claims, who specialise in organising your circumstances and working towards getting your money back. Unlike some companies out there, they operate on a fully no win no fee basis, so it’s a classic case of there being nothing at all to lose by finding out.
An added bonus here is that they are quite experienced in a range of claims, and that more than likely includes yours. Their specialist areas include:
- Re-claiming mis-sold pensions
- Mis-sold pension transfers
- Claiming SERPS compensation
- Claiming SIPPS compensation
Tips to avoid being mis-sold a pension arrangement
As obvious as it sounds, absolutely avoid signing up for any sort of pension where you don’t fully understand the entire process. You need to know precisely how it works and what it promises to do. A good company will back up what they say with evidence of their success and always get a second opinion before you sign on the dotted line.
Another point is to make sure you get everything in writing. A surprising number of claims arise from people who lack the paperwork relevant to get them the compensation they deserve. A lack of paperwork is quite simply a lack of evidence in this type of situation. It’s crucial to your safety in the event of mis-selling. Once you have opened investigations with Expert Pension Claims, listen to what they tell you about your claim, and answer as many questions as you can, in order to ensure an efficient process.
Any financial advice that has resulted in the loss of your money could be the result of miss selling.