Clients or prospective clients have at some time or other either asked but certainly thought, how do I know if I have had a mis-sold Pension. If you have had any form of Pension arrangement from a Pension Annuity through to a SIPP or a Final salary Pension transfer then it is certainly worth checking whether everything is correct ad above board. The simple answer is you don’t know if it was correct and for this very reason is why you should find out. In fact don’t beat yourself up most people do not know if their pension arrangements are correct, why should they.
SIPPS are a valuable form of Personal pension but as with many pension arrangements the firms setting these up and or the advisor making the sale can for a number of reasons have pushed you into a product that does not meet your financial needs. Both at the point of sale or, probably more importantly when you reach retirement age and when of course you need the pension most.
So you have no paperwork, you can’t remember how the pension was sold and if you did surely all of this must be irrelevant as it’s a pension how can it be mis-sold. Guess what if you can’t remember it doesn’t matter, it doesn’t matter how long ago and if you don’t have any paperwork it is not a problem, we can answer all these questions and if the answer is no there is not going to be a refund then there is no fee to pay as we work on a purely no win no fee basis.
The most important information you have is the name of the pension provider again it doesn’t matter if they are in business or not because your pension will be somewhere as it will have been transferred. With this we can contact them and with a bit of nagging they are normally able to provide the details to see the basis of the sales process. If the pension provider for some reason and after a fair bit of nagging cannot find the details or if there was no mis-sale then there is no fee to pay. The only time we charge a fee is if we can obtain a refund on your behalf in which case we charge a fee of 20% plus the VAT (24% inc) of the refund.
So it doesn’t matter whether you can recall how the pension was mis-sold, all you need to do is contact us and provide details so we can establish whether any concerns that you had or now have hold any merit.