Military Mis-sold Pension Claims

military pension mis-sold

Military Pensions are one of the safest pensions around. Not simply the value, but the guaranteed benefits. However, when markets are low it is natural people look for alternative ways to increase income. This has led to many military personnel receiving bad pension advice.

Thousands of military personnel relied on advice that transferring into a SIPP (Self Invested Personal Pension) was best for them.

mis-sold sipp pension claims
mis-sold sipp pension claims
mis-sold sipp pension claims

11+ years in financial claims
FCA authorised & regulated
£Millions claimed in compensation**

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Making a claim can be daunting, but Claimline Legal can help you claim back what is rightfully yours. After all, it's your and your family's financial future. 

However, transferring your pension out of a defined benefit pension and losing the associated benefits, is seldom a good idea.

Feel Let down? Let us take on your claim.

Claimline Legal has been in financial claims for over 11 years. We have succesfully reclaimed £Millions in compensation** for our clients. Our friendly trained Consultants will provide you with objective advice and once enagaged will handle your mis-sold SIPP pension claim from start to finish, keeping you updated all the way. Why take the risk? Let us handle your mis-sold Military pension claim.

military pension mis-sold

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military pension mis-sold

SIMPLE CLAIMS PROCESS

REGULAR UPDATES

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END-TO-END SUPPORT

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WERE YOU MIS-SOLD ?

Your Financial Adviser had an obligation to make sure the pension transfer was in your best interests. Did they: 

  • ask about your income, savings, tax position and finances in general? 

  • ask about your outgoings - mortgages, loans and if you have any dependents such as children or elderly relatives? 

  • take into consideration your retirement plans, date or financial requirements?

  • take into consideration your appetite for risk, especially if your income dropped due to your investments performing poorly?

  • ask about your health in general?

  • ask the same questions about your spouse or partner? (where applicable)

  • explain to you the costs of the transfer and any commissions involved?

Still unsure? Listen to the free audio.

FREE Mis-sold SIPP Audio
00:00 / 07:03
 

Is your pensions Adviser/Company on our list?

As the scale of pension mis-selling unfolds, more and more pension Advisers and companies are coming under the spotlight. Below is a sample list of companies that are either in default, or under some sort of investigation. This list is not exhaustive. Even if your pension Adviser is not listed here or you are unsure, please get in contact with us today. We are ready to help you with your mis-sold Military pension right now.

1 Stop Financial Services

Accuro Finance Limited

Active Finance

Active Wealth UK

Advacade Limited

Advicelite

(trading as Pensionlite)

Alderley Asset Management

Alexandra Associates UK

Archer Bramley

Ashfield Financial Planning Limited

A W Dallas Financial Services

(trading as Portfolio Pensions Cons)

Bartholomew Hawkins

BlackStar Wealth Management

Blue Infinitas

Blue Ocean

Capital Asset Management Ltd

Carey Pensions

CIB Life & Pensions

Chadkirk Wealth

Cherish Wealth Management

County Capital

Designed 4 Life

Douglas Ballie

Estate Matters

Ethical Forestry

Financial Page

Foreman Financial Service

Fudicia Wealth Solutions

Greyfriars Asset Management

GPC SIPP

(Guardian Pension Cons)

Harlequin Property

Henderson Carter

Hyde Financial Management

IFA Home Counties

Independent Financial Matters

Intuitive Financial Associates

Karl Jones

(trading as Total Financial)

Kingsbridge

Knight Wealth Management

Lighthouse

Mansion Park Ltd

Newton Barr Partnership

Omega Financial Solutions

Paradigm Financial Partners

Park First

Pembrokeshire Mortgage Centre

(trading as County Financial)

Portfolio Pensions Consultancy

Premium Watch Financial

Retirement & Pension Planning Svs

RHT Financial Services

Roger Harris & Company

S&M Hughes Ltd

(trading as Crescent Financial)

Sovereign Wealth

Strategic Wealth UK

(trading as Gibro Wealth)

Talk Financial Solutions Limited

TFP (Life & Pensions) Ltd

The Ntrust Group Ltd

The Resort Group

West Wales Financial Services

Westbury Private Clients

Westminster Financial Planning

Wrightway Financial

What types of SIPPs were mis-sold?

The best way to understand if you have been mis-sold your SIPP pension and been the victim of SIPP mis-selling is to look at the nature of the product. If it was an exotic or non-standard high-risk investment product, it may come under the mis-sold pension banner.

There has been a wide range of SIPP investments that have become prominent in recent years. Most commonly:

Car Park Schemes

Overseas Property

Hotels

Antiques

Wines

Eco Projects

Forestry

Bitcoins

Coins

Farmland

Renewable Energy

Green Oil

Care Homes

Rain Forests

Storage Pods

Solar Power

Burial Plots

Bio Fuels

Film Production

Diamonds

Should I have transferred my Military pension?

mis-sold military pension

Probably not, but in some cases in can be to your advantage. It's usually a balance between weighing up the pension benefits and investment risks. 

FINAL SALARY - It rarely is a good idea to transfer your final salary pension. You may have lost out on practically guaranteed income in retirement, index linked performance, death benefits that may have allowed your spouse a large portion of your pension if you pass, plus there are usually no fees or charges to operate and manage your funds.

SIPP - SIPPs can be beneficial, but they come with risks. A SIPP is a type of pension that offers more control and choice of where your retirement fund can be invested. SIPPs were designed for experienced investors. However, some Financial Advisers have invested in inappropriate investment vehicles and exposed their client's funds to unjustified risks. 

Mis-sold SIPP Pension Claims Explained.

Pensions can be one of the most tax-efficient forms of investing for retirement. The SIPP scheme (Self Invested Personal Pension) is a personal pension scheme approved by the UK government. SIPPs act as ‘wrappers’ and allow investors to have the freedom to use a wider range of investments and products in order to grow their pension fund.

Although the exact tax situation will depend on the investor’s personal circumstances, a SIPP can offer up to 45% tax relief on contributions and no capital gains tax or additional income tax to pay in the UK. SIPPs can offer a wide range of investments an investor can choose from and can include investments from a variety of sources, even overseas. However, just because there is choice it does not mean the investments are suitable even if there are tax advantages.

Due to the wide range of the investments allowed in a SIPP and the fact that they usually follow a recommendation from your financial adviser and not the SIPP company, your capital can end up being placed into riskier unregulated investments, such as high-risk hotels & commercial property, carbon credits, bio diesel and forestry. This can result in investors losing most of their pension fund.

The best way to find out is to contact our friendly team today. Call us now on 0800 779 7457 or complete the contact form.

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