Taking out a pension is supposed to protect us later in life, giving us the opportunity to enjoy a comfortable and well-earned retirement.
However, with so many options for pension funds, and a myriad of schemes often promising the world to entice customers into trusting them with their money, it can be really difficult to know which investors to go with.
According to experts, around a third of UK pensions have been mis-sold.
But what happens when you discover that you’ve invested your pension money into a scheme that doesn’t have your best interests at heart, and your hard-earned security blanket seems to have vanished into thin air?
That’s where the Return My Money, a highly rated, Manchester-based claims management company, can help.
This incredible company helps victims of mis-sold pensions and investments claim up to £350,000, to regain the money that was fraudulently taken from them.
Having recovered over £100million for clients since 2011, Return My Money have a lot of valuable experience in their field.
They operate on a no win, no fee basis, giving clients the peace of mind that they wont encounter any legal fees that they can’t afford.
Authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activities, the company have effectively helped many people to get back the money that was taken from them.
Having recently marked its 10 year anniversary in style by helping a very grateful client secure a unique win in two cases relating to a mis-sold, self-invested personal pension (SIPP) and investment, the company are eager to help others who may have experienced similar set-backs.
The claimant, who did not wish to be named, had transferred their Aviva personal pension, worth approximately £127,000, to The Lifetime SIPP Company in 2011.
As part of the SIPP, an investment into Harlequin Property was made shortly afterwards, committing approximately £100,000 into a property development in the Dominican Republic.
Shortly after this investment was made, the claimant’s SIPP was valued at zero.
After contacting Return My Money for a free review, they were able to inform their team of pension experts about what had happened, and the claimant has now been awarded the astounding sum of £170,000 across two claims.
The team encountered a roadblock when they discovered that The Lifetime SIPP Company and the adviser who persuaded the client to invest their money, are no longer in operation.
This resulted in both claims needing to be submitted to the Financial Services Compensation Scheme (FSCS).
The FSCS found in favour of the claimant, awarding its maximum £85,000 compensation in both individual cases.
Whilst the value of the claimant’s Aviva pension was in excess of £250,000, the awarding of £170,000 will go a long way to ensure the claimant enjoys a comfortable retirement.
The double claim came as a welcome surprise for the claimant, who had resigned themselves to the cash being lost forever, and was delighted with the outcome.
Chris Hopson, managing director of Return My Money, said: “I’m delighted our team has managed to settle this claim on behalf of our client, who had written off this cash and decided to cut his losses before seeing one of our adverts.
“While both claims needed to go to the FSCS due to the failure of the two companies in question, the outcome of both cases and the sums awarded highlight the importance of pursuing claims for mis-sold pensions.
“It also serves as a timely reminder to anyone who has been the victim of a mis-sold pension that a company not being around anymore isn’t a barrier to seeking redress and getting the compensation they deserve.”
Return My Money also gave a helping hand to Gary Moss, who transferred nearly £160,000 out of Phoenix Life Pensions into Greyfriars Asset Management LLP and DFM Organic Investment Management.
Mr Moss trusted his financial adviser to be managing his pension assets and was under the impression that his investment was growing year on year.
He was under the impression that his money was safe and he would have have a significant pension to retire with.
After contacting Return My Money, the company were able to investigate Mr Moss’s pension transfers and investments.
They discovered that, contrary to what he’d been told, he had actually lost a significant sum of money.
Upon taking on Mr Moss’s case, Return My Money were able to claim back a significant £85,000 of his lost pension investments via the Financial Services Compensation Scheme.
To find out more about how Return My Money can help you, click here.