Pension mis-selling is on the rise, and can have a significant and negative impact upon your life and upon your financial security. If you believe you may have been mis-sold a pension, or that there are other aspects of your pension which are suspicious or worrying, you may be legally entitled to make a financial compensation claim.

For expert advice and more information on pension mis-selling claims in Scotland, see MBM Commercial’s guide here.

See also our new guide to Pension Freedoms & Unlocking Advice here.

1: What is pension mis-selling?

Pension mis-selling can come in various forms, and it is always best to seek specialist legal advice if you are concerned.

Your pension provider may have invested funds in very high risk schemes, such as forestry, oil, or off-plan property, and the investment strategy may have gone wrong, negatively impacting on your pension pot and retirement income.

You may have received incorrect pension advice, or received poor advice, not properly explaining your pension entitlements or rights to an enhanced annuity.

Further, you may have had a pension sold to you without the proper information provided, not allowing you to make an informed decision, and causing you to invest in a pension which was not in your best financial interests.

All of these scenarios, and some others, may constitute a mis-sold pension case, and you could be entitled to claim financial compensation.

2: What can I do if I think I have been mis-sold a pension?

The best thing to do is get expert legal advice from a solicitor.

If you have been mis-sold a pension/pension scheme, it could be risking your lifetime pension savings and investments.

A specialist solicitor can review the advice you have received, look at the process that was used to sell you the pension, and advise you on your options in respect of seeking compensation and recovering any money you may have lost as a result of your mis-sold pension or pension scheme.

You may be able to recover funds, obtain compensation for losses suffered, as well as compensation for previous losses, and subsequently a better annuity in the future.

The options are varied and considerable, and depend on your individual case and circumstances, which makes it even more important to seek specialist legal advice.

Whether or not you have financially lost out, you may still be able to claim some compensation if your pension was mis-sold to you.

3: What should I do next?

The best person to advise you on a potential pension mis-selling claim is an experienced solicitor. They can look closely at all of the circumstances and support, advise and represent you going forward.

A trained and experienced solicitor will know just what to look for, and will be able to tell you if your case has a realistic prospect of success.

Need a pension mis-selling claims lawyer near London, Manchester, Edinburgh or elsewhere? Get legal advice today

If you have further questions, please do not hesitate to get in touch with the site’s editor, Gavin Ward, who can advise you on some of the best lawyers and law firms to consider and direct you in respect of a potential pension mis-selling claim. Gavin can be contacted via email, or via the site’s online form.