Retirement planning is one of the most important financial plans when a person should make. It is the process of planning for life after work ends. There are several pensions plans available which can help us to reach our goals such as, at what age to retire, how much to save for retirement, where to live, and so on.However, problems will arise when some financial advisers recommend schemes that are not always in the best interests of their clients. A large number of advisers are actively pushing their clients from many years to move their pensions to a new scheme, regardless of whether it is in their best interest. In this case, if the client is advised to move their retirement and lost money as a result,then it comes under. If anyone has been mis-advised and fooled into switching to such a pension, the good news is that they may be able to claim compensation.
If we investigate mis sold pension transfer cases, it is proved that it’s been poor financial advice to people to move their Pension to other schemes, this has resulted in more money being paid back to clients in the form of compensation. This is because many people were not advised of the benefits that they could lose by Transferring their Pension to other products. This entire situation leads to a direct loss in their overall Pension.
Many victims are searching for advice within forums. They look for pension claim letter formats. There is nothing to stop a claiming from his or her own, but don’t take the risk of your claim being rejected when some expert pension claim lawyers can follow a proven process to get reasonable compensation as well as justice. But how do we know if we are one of the thousands of victims? Pension advisers have stringent codes of practice to follow. However, the basic principle is that you may have been a victim where you were sold your pension unfairly, or not made aware of better options.
Are you a victim of Pension mis-sold?
Anyone can claim on pension/financial advisory if any of the following is applied, when
Charges are not appropriately explained which are involved with the pension scheme
You were not given all the information required to make an informed decision.
The maximum amount is not revealed that we would get back to draw depending upon the performance of the scheme.
The risks and policies are not explained fully which are surrounding the pension scheme
unable to estimate your financial situation
You were not allowed to shop around for the best deal.
Failed to ask your health and medical issues that come under the account.
If any of the above statements is applicable, anyone could likely apply for mis sold pension transfer compensation.
Many have questions about how the claim process works and how long it may take until the refund is received. Each case is different, and claim experts will try to outline the process as clearly as possible and also offers pension mis-selling advice.
After completion of initial inquiry over the phone or through the online registration form, claim experts will send a claim pack for signature. There will be a chance to cancel the claim if you don’t want to proceed further. Claim expert will contact the pension provider or adviser to get information on pension details of the client and do a review and ask details for clarification. Then claim expert will submit a claim on behalf of a client, adviser or provider has a limit time to respond to the complaint. If a complaint may be verified and found its mis-sold, then the client will be paid some compensation according to the agreement.