Mis-sold pensions

Hendersons are experts in helping people claim compensation. Our small and friendly team of advisers can identify whether you have been wrongly sold your pension, whether you can claim and if you do choose to make a claim, they will keep you updated on your case throughout.

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The Financial Conduct Authority recently found that many customers have been poorly advised on their pensions and thousands of people are now successfully claiming their money back. *

*From www.fca.org.uk "Defined benefit pension transfers – market-wide data results" 19/06/2019

Was my pension mis-sold?

Pension advisers have to follow certain processes and if they don’t, you may have been sold, or transferred to, the wrong pension for you, especially if you have lost money when transferring or were not clear about the choices you made and the charges that applied.

Contact us if you answer 'no' to any of the following questions:

Did you feel the adviser gave you all the information you needed?

Do you feel you were provided with all the options available for the best possible deal?

Has the SIPP increased in value in line with inflation?

Did the adviser account for any health and medical issues?

Was my pension right for me?

Many people experienced losses after their advisers recommended they put their money in high-risk investments without fully explaining the risks.

You may have been mis-sold if:

  • You were pressured into making a risky investment
  • You were advised to move from a workplace pension to a SIPP
  • Your IFA or SIPP provider didn’t explain clearly where you should invest
  • The terms and conditions of your investments were not made clear to you
  • You were not made aware of all relevant costs
  • The fund had a very high commission rate

What is a SIPP?

A Self-Invested Personal Pension (SIPP) is a form of pension plan, but unlike a standard personal pension where investments are made for you, a SIPP allows you to choose where your money is invested. Generally those who choose a SIPP use the services of an IFA to guide them on their investments. SIPPs are a cost-effective way of managing your pension and with the right advice can produce better returns than a standard pension, however some SIPPs have high charges and offer very risky investments with high commissions.

What is a QROPS?

A Qualified Recognised Overseas Pension Scheme is an international pension that has met the conditions stipulated by HMRC and so is eligible to receive assets from UK registered pension schemes. It has been judged to be of the same of equivalent standard as a UK pension. QROPS has become an increasingly popular option for many people living overseas that are no longer contributing to existing schemes in the UK and wish to remove their assets from restrictive final salary and defined contribution pensions.

How to start a mis-sold pension claim

Fill in the online form

to request a call from us

Chat to our friendly advisers

about your potential claim

Complete the simple forms

with our help

You can pursue the claim yourself without using a Claims Management Company and without cost. You will first need to complain directly to the appropriate third party who sold you the product or provided you with the advice and if this is unsuccessful, you can complain through the Financial Ombudsman Service, The Pension Ombudsman, or, the Financial Services Compensation Scheme (depending on the type of complaint and circumstances).