Have you ever had a Pension Transfer with Equitable Life?
You could be owed £1,000s in compensation if Equitable Life mis-sold your Pension Transfer.
Many consumers were told by Equitable Life to transfer their pension benefits from a work based pension to a private pension. In most cases these pensions would not provide any additional benefits, Equitable Life did not tell their customers that transferring their pension would typically result in a loss of benefits such as a final salary scheme or matching contributions.
Some providers such as Equitable Life promoted that the pension they offered would out perform the workplace pension, this would not be the case with a riskier stock based pension and the advice given to millions of clients has been condemned by the regulator of Equitable Life.
Were you mis-advised by Equitable Life about Transferring your pension?
You may have been mis-sold your Pension Transfer by Equitable Life if any of the following reasons for complaint are relevant to you:
- I was encouraged or mis-informed by Equitable Life to transfer my workplace pension regardless of it not being in my best interest.
- I was not told or given information by Equitable Life about how my new pension plan would perform and work compared to my workplace pension plan.
- When I changed jobs my new employer encouraged/advised me to transfer to a personal pension or suggested that I should as they did not provide a pension scheme.
- I was not informed or told by Equitable Life that by opting out of my company pension scheme I would lose the guaranteed benefits that were associated with my company pension scheme.
- I was not informed or advised byEquitable Life that by opting out of my company pension scheme that I would lose my employer contributions that would have been paid into my company pension scheme.
- I felt pressured by Equitable Life into transferring my pension even though it posed a higher risk.
If any of the above statements are relevant, you could be entitled to:
- A full refund of the benefits you had lost when you transferred the pension to Equitable Life
- Statutory 8% interest in line with guidance issued by the Financial Ombudsman