What is a SIPP?
A SIPP, simply put, is where an individual takes out part, or all of their pension and invests it into some sort of product. Unfortunately, many of these products are high-risk, illiquid and unregulated. Some examples include:
How Were Pensions Mis-Sold?
SIPPs may have been mis-sold by advisors who gave negligent advice in relation to:
– Size of the clients’ pension fund
– Clients’ capacity to take losses
– Overall suitability of the proposed underlying investments.
In many cases, the advisor failed to consider the benefits that clients were sacrificing by moving funds out of their existing schemes. With benefits including final salary pensions and guaranteed annuities.
Furthermore, it may be possible to bring a claim against the SIPP administrator itself for failing to comply with its regulatory duties when setting up the SIPP and accepting investments into its product. Thankfully, the FCA has taken a strong interest in the goings-on of the SIPP Administrators in this sense.
Claims may now even be possible where the SIPP Administrator has since gone bust.
How Can We Help Your Pension Claim?
Civil Claim Services Ltd have a dedicated team of solicitors who specialise in pension claims. Our legal partners will use their experience to ensure that you receive the best advice possible. Thus, helping you get the SIPP Compensation you deserve.
Don’t just take our word for it, have a read of some of our client reviews .
To discuss a new matter with us, please contact us on 0800 862 0605 . Alternatively, submit details of your matter using the online enquiry form at the bottom of the page
What Will Claiming Cost