Have you ever had a Pension Transfer with Old Mutual?
You could be owed £1,000s in compensation if Old Mutual mis-sold your Pension Transfer.
Many customers were informed by Old Mutual 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, Old Mutual did not tell their consumers 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 Old Mutual 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 Old Mutual.
Were you mis-informed by Old Mutual about Transferring your pension?
You may have been mis-sold your Pension Transfer by Old Mutual if any of the following comments are relevant to you:
- I was encouraged or mis-advised by Old Mutual to transfer my workplace pension regardless of it not being in my best interest.
- I was not told or given information by Old Mutual 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 Old Mutual 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 advised or told byOld Mutual 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 Old Mutual into transferring my pension even though it posed a higher risk.
If any of the above reasons for complaint are relevant, you could be entitled to:
- A full refund of the benefits you had lost when you transferred the pension to Old Mutual
- Statutory 8% interest in line with guidance issued by the Financial Ombudsman