News and Knowledge

FSCS to step in and fund costs for exit strategy for Hartley Pension SIPP customers

The FSCS explained in a new update this week, that it will compensate customers by funding the costs of the Joint Administrators’ exit strategy for Hartley SIPP customers.   This is a 180° turn on their previous stance, as they have previously said that they would not pay the charges. This comes after Hartley Pensions…

List of FSCS Most Recent Failed Firms and how to make a claim

If you have lost out on money due to a financial firm failing, you may be entitled to make a claim against them.   By submitting a claim to the Financial Services Compensation Scheme (FSCS), they may be able to compensate you for your financial loss. However, there are eligibility rules in place to make…

FCA set to complete a review of car finance market

The Financial Ombudsman have issued decisions against Black Horse and Barclays Partner Finance about discretionary car finance commission which may have affected millions of customers   On January 11th 2024 the financial services regulator, the Financial Conduct Authority (FCA), announced it would be completing a review of the car finance market. This comes after the…

8 complaints against Options UK Personal Pensions Ltd upheld in just 1 week

In the space of 1 week, the Financial Ombudsman Service (FOS) upheld 8 complaints against Options UK Personal Pensions Limited.   The complaints It seems that many of the complains result back to the same reason. Customers of Options UK have complained that Options shouldn’t have accepted their applications to transfer there benefit pension into…

FSCS Outlook November 2023

The FSCS have published their latest edition of Outlook and provides a final update for the 2023-2024 levy as well as a first look at the 2024-2025 forecast.   Final Update on 2023 – 2024 Levy The FSCS has confirmed that the total levy remains unchanged and as forecast which was set earlier this year…

Have you been Mis-Sold a Pension?

Have you been mis-sold a Pension?   Pension firms and advisors have a duty to act in their clients best interests and are required to assess their clients suitability when providing advice to transfer their existing pension to another pension, as well as explain the benefits and the risks involved with the pension transfer.  …

Types of Pension

What is a pension?   A pension is a regular payment made during a person’s retirement from an investment fund to which that person or their employer has contributed during their working life.     What types of pensions are there?   A pension is a regular payment made during a person’s retirement from an…

Pension scams. How to stay safe?

Pension scams. How to stay safe?   According to Action Fraud, more than £30 millions were lost between 2017 and 2020 in pension scams. Pension pots are one of the most valuable assets as this guarantees some income in retirement. Understandably, many people try to search for deals to make the most of their pension…

Pension Awareness Week – How to spot a mis-sold pension

Pension Awareness Week – How to spot a mis-sold pension   One of the main things to look out for to determine if you were mis-sold a pension is that it is not about the money you have lost – it is about the circumstances in which you were advised to invest.   Independent Financial…

Pension Awareness Week 2023

Pension Awareness Week 2023   The Pension Awareness Week runs from the 11th to the 15th September 2023. This year, being an extra special year as it marks the 10th birthday of Pension Awareness Week!     What is Pension Awareness Week? Pension Awareness Week is a five day event that aims to provide free…