Mis-Sold Personal Pensions

What Is Pension Mis-Selling?

Pension mis-selling occurs when individuals receive unsuitable advice or are not provided with accurate information about personal pension products. Common examples include:

• Being encouraged to transfer workplace pensions into personal schemes without understanding the risks.
• Investing in high-risk funds that do not align with the individual’s financial situation.
• Misrepresentation of fees, charges, or potential returns.
• Failure to explain alternative options or provide full disclosure of terms and conditions.

Key Legislation Protecting Pension Holders

The UK has implemented robust regulations to protect individuals against pension mis-selling:

• Financial Services and Markets Act 2000 (FSMA): Mandates financial advisers to provide accurate and transparent advice.
• Pensions Act 1995 and 2004: Introduced additional safeguards, ensuring the proper handling of pension schemes.
• Financial Conduct Authority (FCA) Regulations: Set standards for advice on pension transfers and investments.
• Pension Ombudsman Services: Offer dispute resolution and compensation avenues for affected individuals.

Identifying a Mis-Sold Pension

Signs of pension mis-selling include:

• Lack of clarity regarding fees or risks involved in the scheme.
• Advisers failing to assess your financial needs or risk tolerance.
• Unexpected losses from investments you were unaware were high-risk.
• Being pressured to switch pensions without receiving adequate comparison details.

How Compensation Claims Work

If you suspect pension mis-selling, legal action can help you recover losses. The process involves:

1. Evidence Gathering: Collecting financial records and communications with the adviser or pension provider.
2. Filing a Complaint: Submitting your case to the Financial Ombudsman Service (FOS) or directly pursuing legal action.
3. Negotiating Compensation: Seeking reimbursement for financial losses, including missed opportunities for retirement savings.

Why Choose Integrity Law?

At Integrity Law, we offer personalised support to clients affected by pension mis-selling. Our services include:

• Reviewing your pension agreements and identifying mis-selling practices.
• Assisting in filing complaints with the FOS or pursuing court claims.
• Negotiating compensation to ensure financial justice and security.

Contact Us for Professional Assistance

If you believe you have been a victim of pension mis-selling, don’t let the issue compromise your future. Contact Integrity Law today for expert guidance on your claim. Together, we’ll work to secure the compensation you deserve.