So you’re a victim of a mis sold sipp pension scheme! Perhaps, you weren’t aware of the risks of the scheme. Maybe, your financial adviser gave the wrong information about the investment plan. Well, you’re not alone. Many people become a victim of mis sold pension sipp due to one or the other reason. The scenario could be pressing for those who lose their entire or major portion of their pension in such schemes. However, the law entitles you to get compensated for your loss.
How to get SIPP cliams?
First of all, figure out the actual loss. Jot down the amount of loss properly to avoid problems later. Next, find out whether you qualify for the sipp compensation. So, how do you do that?
The Financial Services Compensation Scheme (FSCS) has set aside a big amount for the victims of mis sold sipp pension plans. However, the scheme has laid down certain conditions for victims to be eligible for compensation. If you fulfill any of the conditions, you can seek compensation.
The list is very lengthy with various conditions. For instance, people who’re given bad advice by a financial adviser can seek compensation. Similarly, folks who’re forced to buy sipp pension plans can get compensated for their loss. If your adviser didn’t warn you about potential risks, you may apply for compensation for losses resulting from the risky investment.
Once you meet the eligibility criteria, obtain an application form. Fill it properly and collect all the necessary documents. Finally, check the application for mistakes and submit your form at the FSCS office. You’ll be informed by the FSCS office whether your application was accepted or denied citing a reason. If accepted, you’ll get compensation; otherwise, you stay where you’re with your loss.
Professional solution for mis sold pension sipp plans
If you pursue a DIY approach to seek compensation, you may likely miss out on an opportunity to get reimbursed for your losses. As a prudent individual, you may want to avoid this scene at any cost. So, why not hire a reliable legal expert for the job?
The lawyer will do all the legwork associated with your particular situation. He’ll fill the form, ensure all documents are properly accompanied, and send your application with a valid reason. In return for a nominal charge, the expert will help you recover your losses. This is why many folks turn to a reputed lawyer for mis sold sipp claims.
Losing a major part of your savings on mis sold pension sipp plans can be highly annoying and discouraging. However, you may recoup your losses through sipp compensation. Just hire a reliable attorney and wait for the money to roll back.