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Mis-sold Pension

Mis-sold Pensions all start with unsuitable advice

If you have received and acted upon unsuitable pension advice, it is likely that you will have either; lost money intended for retirement or lost guaranteed benefits associated with a final salary pension or both. Your pension is intended to provide you with an income in retirement and any substantial loss of funds or benefits could have a detrimental effect on your future standard of living.

There are a number of circumstances in which unsuitable pension advice can occur.

Defined Benefit Scheme Transfers

Defined Benefit or Final salary schemes provide guaranteed, protected rights that will generally provide a lump sum and an income for life. Transferring out of this type of scheme will mean losing those guaranteed benefits and taking on the risk of managing your own pension funds.

The Financial Conduct Authority conducted a review in 2018 of a sample of defined benefit pension transfers conducted by regulated firms. From the cases they reviewed, they concluded that it was more likely than not that the advice received was unsuitable and they have now requested data from every firm.

The extent of this potential regulatory time bomb can also be evidenced from the increased volume and value of defined benefit Pension transfer claims paid by the FSCS which almost doubled in 2017 to £37.5m and is expected to hit £40 million for 2018.

If you were advised to transfer out of a final salary scheme contact Hallbrook today.

Self-Invested Personal Pension (SIPP)

SIPPs allow an investor to take control of the investments within their pension. They may typically be used by business owners who wish to purchase their own commercial property or experienced investors who want to take an active role in their investments and/or wish to hold individual shares.

They can hold direct investments in company shares, land, commercial property and a variety of non-standard or obscure investments which carry a high degree of risk.

The product charges can also be significantly higher, which will ultimately impact the overall performance of the investments.

This type of product may therefore be unsuitable for many standard investors and due to the schemes flexibility, it has also been used to either facilitate scams or by firms wishing to offer clients unregulated investments that might offer commissions or introducer fees that are excessive and inappropriate.

If you were advised to transfer into a SIPP and are concerned about the value of your pension contact Hallbrook today.

Non-Standard or Obscure Investments

A Non-standard investment is usually unregulated, might not be easy to accurately value and not readily realised within 30 days. These generally occur within a SIPP wrapper and there has been many scams involving asset classes such as:

  • plots of land (with no planning permission)
  • hotel rooms
  • diamonds
  • bio oil investments
  • storage pods
  • carbon credits
  • overseas land
  • CFDs
  • Unregulated High-Income corporate bonds
  • Unregulated overseas Investments
  • High risk Shares and Funds

These assets will usually carry a high degree of risk and may have been the subject of fraud investigations and pension scandals.

How can Hallbrook help?

Hallbrook has been representing private investors for 10 years and during that time we have amassed an unrivalled knowledge of the regulatory rules that apply to complex mis-selling cases, and acquired the necessary experience in order to navigate the regulatory landscape on behalf of clients.

Since 2010 we have successfully recovered in excess of £50 Million in compensation and continue to recover millions every year.

Time limits may play a factor when considering a claim so we urge all investors to seek advice in relation to the suitability of their pension before it may become too late..

The Parliamentary Review, a publication on industry best practice published by former MPs and Journalists, recognised Hallbrook as a sector leader in the financial services industry and invited us to contribute to the 2017 edition. Read here

How do I get started?

Contact Hallbrook either by calling us on free phone number 0808 2 818 717 or by emailing us at

We will need to understand the circumstances surrounding the pension advice and review any documentation that is available before we can fully establish the prospects of a claim. A Hallbrook representative will be able to guide you throughout the entire process.

How much will it cost?

We operate on a conditional fee basis, which is essentially a ‘no win, no fee agreement’ as long as you don’t cancel the agreement before the claim has reached its final conclusion. If you do cancel the agreement prematurely then you may incur a charge for hours of work conducted up to that point.

Our standard charge is 30% Inclusive of VAT.
See our Terms & Conditions

For a free no obligation consultation please call Hallbrook today on Freephone 0808 2 818 717

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The Parlimentary Review

Hallbrook feature in the 2017 edition of The Parlimentary Review which is available to view here.