Mis-sold Pension?

Jar of coins with “Retirement” label

The government has accepted the recommendation that the
state pension age increase should be brought forward to 68 between 2037 and

Under the current law, the state pension age is due to
increase to 68 between 2044 and 2046.

This may have made you decide to accept advice to move
your pension into a fund or scheme that will increase the dividend and the pay-out
during your retirement.

Is the advice hat you have taken been giving the results
promised during the negotiations or is your pension fund now underperforming?

Pensions of thousands of citizens have been put at risk
by advisors who have convinced them to pull their retirement money out of safe
investments in order to invest in risky, often unregulated investments with the
promise of incredible returns

In actuality these investments may actually be worthless.
So how can you work out if you have been mis-sold a pension investment?

SIPPS themselves aren’t the problem. The problem comes
from some of the investments that individuals have been sweet-talked into
making through their SIPPs, high-risk investments which may prove almost
impossible to sell on and so redeem any actual value from.

According to an FCA survey, around one in eight people
who have received financial advice in the last year claim that an adviser has
mis-sold them an investment or pension product at some point.

The FCA has noted that this is likely to be an
underestimation, so we could be looking at hundreds of thousands of people who
may have been duped into making questionable investments and many of them will
not realise that their pension could be worthless!

Often this mis-selling begins with a phone call out of
the blue. The person on the other end of the line will tell you about a
fantastic, can’t miss opportunity. Not only will the supposed returns sound
attractive these firms will often promise to guarantee those returns for the
first couple of years.

You may have been invited to attend a seminar where ‘experts’
may seem to be offering a legitimate opportunity.

If you didn’t ask for someone to call you with pension
advice the best advice is end the call!

If you think that you may be a victim call today on 01942
619911 and speak to one of our advisors.

Posted on by CCKeith in Uncategorized

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