Have you ever had a Pension Transfer with The Friendly Society?
You could be owed £1,000s in compensation if The Friendly Society mis-sold your Pension Transfer.
Many consumers were told by The Friendly Society 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, The Friendly Society 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 The Friendly Society 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 The Friendly Society.
Were you mis-informed by The Friendly Society about Transferring your pension?
You may have been mis-sold your Pension Transfer by The Friendly Society if any of the following comments are relevant to you:
- I was encouraged or mis-advised by The Friendly Society to transfer my workplace pension regardless of it not being in my best interest.
- I was not told or given information by The Friendly Society about how my new pension plan would perform and work compared to my workplace pension plan.
- When I changed jobs my new employer encouraged/told 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 The Friendly Society 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 informed byThe Friendly Society 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 The Friendly Society 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 The Friendly Society
- Statutory 8% interest in line with guidance issued by the Financial Ombudsman