Mr W had a final salary pension scheme with a transfer value of around £107,000. This represented all of his retirement savings, and he was dependent upon this money to fund his future retirement. With this in mind, he did not want to place the fund at any risk.
Mr W was advised to transfer the entire sum to a Self-Invested Personal Pension (SIPP) administered by Berkeley Burke. He was inexperienced with pension matters and was therefore completely reliant upon the advice received. He agreed to make the transfer based on the strength of the recommendation received, and the SIPP was then used to invest in storage pods.
This was, in fact, completely contrary to Mr W’s requirement for a low-risk pension option, as the investment was unregulated and came with a considerable element of risk. He has since received returns of under £1,000 and has been unable to exit the SIPP because no buyer for the storage pods can be found.
We are bringing a No Win No Fee claim against Berkeley Burke to recover his financial losses incurred by investing in the SIPP. We are representing him in an ongoing case and are seeking compensation of over £107,000.
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Ms C, seeking a low-risk pension, was mis-sold a SIPP invested in Brazilian teak trees. The unregulated scheme collapsed. We are pursuing full recovery of her £36,000 on a no win, no fee basis.
Ms N was advised to invest in Costa Rican tree plantations through a Liberty SIPP. The investment proved worthless. We are fighting to recover the £18,000 she lost, plus interest.
With little financial knowledge, Ms H was mis-sold a high-risk SIPP and lost access to her £250,000 pension. We are representing her in a major compensation claim against Carey Pensions.
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You do not need legal representation to make a financial services claim. You can complain yourself at no cost and under FCA rules, the financial services provider must provide a response. If you feel this is unsatisfactory, you can complain to the statutory redress bodies, the FOS and FSCS who can award you compensation. This is a free service.
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