An FSAVC is a Free Standing Additional Voluntary Contribution pension. It was introduced to allow members of workplace/occupational pension schemes to build up additional pension benefits.

Unlike standard workplace/occupational pension schemes, an FSAVC is investment based and grows depending on the stock market, which in some cases can prove risky for you.

An industry wide review into the sale of FSAVCs between 1988 – 1999 found significant failings in the advice given by insurers. Many customers were not told about the risks involved or that they would be financially better off making additional voluntary contributions to an Employer pension scheme. This is known as an AVC and is a less risky option with lower charges.

FSAVCs typically had significantly higher management charges than an employer run AVC, leading you to miss out on vital retirement income, and the Broker or Salesman profiting from it in the form of higher Commission.

Pension complaints in general have resulted in over £11 Billion in compensation being awarded for poor advice that can be damaging to your future financial position.

The provider who sold you the FSAVC has to put you back into the financial position you would've been in if you received the correct advice.

This means you could be entitled to a pension loss calculation to see how much money you've lost out on.

You may also be awarded the difference between the charges of an FSAVC and an AVC.

The average amount of compensation awarded on our successful FSAVC claims in 2020 was £8,000.

  • My Claim Solved is regulated by the claims management regulator in respect of regulated claims activity, we operate a "no win, no fee service*" and charge no hidden fees for using our service.
  • We've successfully secured over £25 Million of compensation for our clients.
  • We have a team of dedicated and trained claims handlers specialising in FSAVC Pension claims who will put you first and fight your corner to secure the compensation you're entitled to.
  • We're one of the leading claims management companies in the UK, having strong relationships with the biggest providers.

*A fee may be payable if a case is not pursued at the clients request once the claim has been processed by the Company (after a 14 day cooling off period expired) Our charges will be calculated by reference to the time spent by us in investigating and pursuing the Claim on your behalf up to the date the Contract ended, which shall be charged for in units of 6 minutes at the rate of £80 per hour + VAT (i.e. 10 units of 6 minutes make up 1 hour).