Frequently Asked Question
Q) What is a pension transfer?
A) A transfer from one pension scheme usually a Personal Pension or an Occupational Pension Scheme (OPS) otherwise known as a final salary scheme. Often the pension you transferred out of was frozen which means you were no longer contributing to it or you had left the company providing the scheme.
Q) What is fund only?
A) If your complaint relates solely to the investments purchased. Often these were high risk/ unregulated investments. These are investments are not considered suitable for a typical retail customer.
Q) Who is my SIPP provider?
A) Your SIPP provider (the administrator of your pension) should provide you with an annual statement, which will detail all the investments and assets held within the pension.
Q) How can I find my initial fact find/suitability report?
A) You should have been provided with a fact find and suitability report when you were advised to make the pension switch. If you cannot trace this you may be able to obtain a copy of your file from the advising firm by requesting a Subject access Report.
Q) My fund name is not listed on the website. Can I still file a claim?
A) Yes you can still make a claim and we can investigate the suitability of the underlying fund.
Q) Are there any extra costs in case of legal action?
A) We would not pursue legal action. We would pursue complaints through the regulated firms. If you decided to take subsequent legal action then you would need to pursue this yourself.
FEES AND PAYOUT METHOD
Q) When do I get my money?
A) Once a decision has been reached and compensation paid, we will forward this onto you less our fees.
Q) How do you get paid?
A) We would deduct our fees from any compensation paid by the Firm, the FOS or FSCS