About Mis-sold Pension Transfers

Given the unpredictable nature of the stock market, it's little surprise that many people choose to join their company pension schemes, particularly the gold-plated, final salary schemes. Yet thousands were wrongly advised into transferring out of these schemes into personal pension plans, which offered fewer benefits. For the people involved, it was a devastating experience. Their future hopes and plans have been dashed.

What is a pension transfer?
A Pension Transfer is when someone ‘transfers' their existing pension to a new pension scheme. You should be particularly concerned if you have been persuaded to transfer from a company pension to a personal pension.
Because of their very nature, anyone who has had a company pension scheme may, at some time, have transferred their plan into a personal pension. However, there are only a handful of scenarios where this is a good idea. In almost all other circumstances, it's plainly wrong - and normally the result of poor advice given by an advisor who got paid commission if someone made the transfer. A customer lost all the benefits that came with a company scheme, such as employer contributions and lower administration fees. The pension they ended up with, despite the advisor's promises, turned out to be a financial disaster, at a time when they needed the funds most.
Pension Transfers are a complex area, so you'd be forgiven for feeling confused at this point. We recommend you read the statements below. If any ring a bell, then you may well have been mis-advised about a Pension Transfer - and have cause for complaint.

1. You were advised to transfer 
You were actively recommended to transfer away from your company scheme despite it not being in your best interests to do so.

2. You weren't given information about how the new plan would perform or work compared to your occupational pension
Your advisor did not compare the projections of the personal pension with the occupational one you were already in. They also neglected to explain how transferring out of your occupational scheme could affect any benefits you received from that scheme.

3. You were changing jobs.
You might also have changed jobs and, despite the chance to join the new occupational scheme and transfer the accumulated funds of your old ones, you were encouraged to transfer to a personal pension plan. If your new employer didn't have an occupational scheme you may have been advised to take the fund out of your existing scheme and move it to a personal pension plan. Both scenarios are examples of bad advice.

So what does all this mean for you?
Having read the three statements above, you may now think that you were mis-advised about Pension Transfers. If that's the case, we believe you've been the victim of financial injustice - and you have the right to complain and get the outcome you deserve.

What can you do to seek compensation?
At this point, you have two main options open to you. You can claim on your own, or you can use an expert. Now we feel it's important to stress that we can't guarantee you a payout, more money or a faster service than you would get on your own. And if anyone else claims this, then we'd advise you to avoid them.

At Premier, we do offer an honest, expert, hassle-free service with no upfront costs. What's more, we're regulated by the Claims Management Regulator in respect of regulated claims management activities and guided by our own stringent Code of Conduct.

Claims form

Validation code

Call us on
0800 802 1001
Refer a Friend

You could earn up to £500 with the Premier Financial referral scheme!

Document Downloads

We have provided links to some documents you may need to help us progress your claim.

Our Services

PPI Refunds

Are you paying for insurance you don't need or won't be able to use?
We could help you get a PPI Refund.

Monthly Fee Bank Accounts

One in five adults have a Monthly Fee Bank Account however, many have not used the benefits and many were unable to claim when they needed to.

Mis-sold Investments

Have you lost money after you have made an investment through your bank or Financial Advisor?
You could be entitled to compensation!

Mis-sold Pension Transfers

Were you actively recommended to transfer away from your company scheme despite it not being in your best interests to do so?

Mis-sold Endowments

Your Endowment may have been mis-sold if the investments which are linked to the policy will not pay off the mortgage at the end of its term.

Document Downloads

We have provided links to some documents you may need to help us progress your claim.

Refer a Friend

You could earn up to £500 with the Premier Financial referral scheme!

Contact Us

Premier Financial have helped thousands of clients, get in touch with us now!

Success Stories

The total amount received by the client was reduced by our fees for handling their case. ​Our Terms and Conditions give full details of fees payable.

New Claims: 0800 802 1001
Website designed by PI Online
PI Online Limited