Mis-sold pension: If you think you have received mis-leading or inaccurate financial advice.

When You Chose Your Pension Scheme, You May Be Owed Compensation.

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Have You Been Mis-Sold A Final Salary Pension Transfer Or SIPP Pension? A mis-sold pension means that you were given unsuitable advice, the risks were not explained to you or you were not given all the information needed to help you make a conclusive decision and this ended in you making investments that are not right for you.

Defined Benefit Pension

The mis-selling of defined benefit pensions is a serious issue that can have a major impact on individuals and their retirement plans. It is important to understand the risks and benefits of these products before making an investment decision.

A final salary pension

A final salary pension is a type of pension plan where the amount of income you receive when you retire is based on the salary you earned during your working life, along with any other benefits you may be entitled to.

What is a mis-sold pension?

You have been given misleading or unsuitable advice before committing to a new pension scheme. This could involve, for example, that the return on your investment was far higher than could be reasonably expected.

Have you invested?

In non-standard assets, e.g. carbon credits, storage pods, green oil, car park schemes, overseas property, ethical forestry etc?

unsuitable advice

You were given unsuitable advice, the risks were not explained to you or you were not given the information you needed and ended up with a product that isn’t right for you.

These ‘transfers’ are typically sold

With the promise of incredible returns and comfortable retirement. But, in truth, they can lead to devastating financial consequences for an individual. There are currently four main types of mis-sold pension: SIPPs, QROPS, SSAS, Final Salary Transfers.

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A mis-sold pension refers to a situation where an individual has been given inaccurate or misleading information about a pension product or service by a financial advisor, pension provider, or other financial institution. It typically involves the inappropriate sale or recommendation of a pension scheme that is not suitable for the individual’s circumstances or fails to meet their needs and objectives.

If someone believes they have been mis-sold a pension, they may be entitled to compensation or have the option to take legal action against the responsible party. In such cases, it is advisable to seek professional advice from a lawyer here at Elite Chambers.


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