FSCS expects thousands of SIPPs claims

FSCS expects thousands of SIPPs claims

The Financial Services Compensation Scheme (FSCS) is expecting to face thousands of claims for mis-sold pensions after a major administrator went into administration. GPC Sipp administered 3,200 SIPPs and another 50 Small Self Administered Schemes (SSAS pension trusts) with an estimated investment value of £130 million. Insolvent But it became insolvent after several ‘alternative investments’ …

FCA probes SIPPs

FCA probes SIPPs

The Financial Conduct Authority (FCA) has started a probe into the advice given to savers with self-invested personal pensions (SIPPs) following high profile court cases against providers Berkeley Burke and Carey Pensions. In a letter the regulator has asked them for information about their business activities and their expectation of the way the providers handle …

Is your pension part of the ‘lost’ £20 billion?

Is your pension part of the ‘lost’ £20 billion?

Could you be losing out on £13,000 in lost pension contributions – part of the £20 billion sitting unclaimed by savers across the country? The Association of British Insurers (ABI) estimates that around 1.6 million pension pots remain unclaimed, but the number could be even higher because their researchers didn’t look into public service pensions …

Up to £50,000 compensation for mis-sold pensions

Up to £50,000 comendsation offered

If you believe you were mis-sold a pension then you could be in line for up to £50,000 compensation from the government. It is believed hundreds of thousands of hard-working Brits may have been conned into investing their pension savings in dodgy self-invested pension plans (SIPPs).