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Are you curious about how to make a pensions misselling claim? Then you are not alone. Nowadays, more and more young professionals are becoming aware of a new wave of financial missellings that could set off the re-emergence of the pensions misselling scandal of the 80s that went on even into the early 90s. The most important thing you should know
If you want to know how to make a pensions misselling claim, then the most important thing that you need to know is that you definitely have the right to recover from a mis-sold pension or any other financial misselling that you feel you might have suffered. Furthermore, unlike other types of claims for compensation, it is actually not necessary for you to have suffered any damages in order for you to make a claim for pensions misselling.
How do I know if I have been mis-sold a pension?
There are some telltale signs that you can watch out for in order to find out if you may have been mis-sold a pension or some other financial product. First of all, the test to determine whether there was a mis-selling or not is whether the product that you were sold was unsuitable for you and that you based your decision to purchase upon the advice of a financial advisor who may have given you incomplete information on the product that you purchased. It is not necessary for you to have suffered some actual damages because of the purchase, it is sufficient that the product sold was unsuitable and that you relied upon the expertise of a financial agent or advisor.
Some common cases of pensions or financial misselling include:
* If a financial advisor has advised you to transfer out of your employer’s pension scheme even if you were actually entitled to retain the original scheme and keep paying.
* If you changed jobs and you were advised to transfer from your former employer’s pension scheme into a personal pension plan. The truth is that you are no longer entitled to keep paying your previous pension plan – but this does not mean that you should actually transfer all of your accumulated savings into a new personal pension. The additional benefits that you are entitled to receive from the amount you have already saved with your original pension plan still remain.
* If you were advised to put your savings into a personal pension plan instead of your employer’s standard occupational plan, then this could actually be bad financial advice.
How to make a pensions misselling claim
Making a pensions misselling claim is actually fairly straightforward. Despite the complexity of the financial world – especially the issue of pensions misselling, as for how to make a pensions misselling claim, there are specific steps that you need to take in order to protect your legal rights. Start with a written complaint to the financial advisor, or whichever personnel is authorized to receive complaints in your workplace regarding financial missellings. You also have a further resort to the ombudsman if you feel that your complaint isn’t being handled properly. Most importantly, don’t fumble around on your own as to how to make a pensions misselling claim and seek advice from a reputable solicitor who specializes in financial missellings as soon as possible.
If you’ve got any questions regarding this or you’d like to know more about making a claim, please call out team on 0161 850 9069.