Have you been mis-sold a SIPP?

If you were advised to move your retirement savings into a Self-Invested Personal Pension (SIPP), you may have been mis-sold.

High risk investments and illiquid assets have led to people suffering devastating financial losses on their pension funds and in the worst circumstances losing the full value of their pension.

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What You Need To Know

A Self Invested Personal Pension (SIPP), is a personal pension scheme approved by the government. SIPPs were introduced in 1989, and since then more than a million UK citizens have used an SIPP to further their pension pot.

However, SIPPs are considered riskier than other types of savings as they rely on the success of where the money is invested.

Particularly risky investments included, but were not limited to:

  • Overseas Property Investments
  • Farmland Global Forestry & Carbon Credits
  • Diamonds
  • Investments
  • Store First Storage Pods
  • Oil & Palm Oil Plantations

Sadly, SIPPs were widely mis-sold, and a great number of people have lost much of their hard-earned savings as a result.

In light of the SIPPs mis-selling scandal, the Financial Services Compensation Scheme (FSCS) have set aside £375 million to pay for compensation costs, where complaints are made about mis-selling.

If you believe you have been mis-sold your SIPP you too could be entitled to compensation.

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