Have you been mis-sold an FSAVC Pension?
You could be owed £1,000s in compensation!
You may have been mis-sold an FSAVC Pension if any of the following statements are relevant to you:
Complete our simple FSAVC Pension claim form above
We'll give you a call to discuss your FSAVC Pension claim & to determine if you're eligible
Receive pre-filled forms to sign and return to us
Sit back and relax while we process your FSAVC Pension claim and retrieve your refund
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 2014 was £7,000.
*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).