Just Loans Group – All your options to recover your lost pension

If you have lost money after being contacted by St Pauls Marketing Limited or after transferring your pension to a Self-Invested Personal Pension (SIPP) with Gaudi Regulated Services, you may be entitled to compensation.

St Pauls Marketing Limited cold-called thousands of people, offering them a “free pension review.” Following the review, customers were encouraged to transfer their pensions to a Self-Invested Personal Pension (SIPP) with Gaudi Regulated Services (also known as EasySIPP) (Gaudi SIPP) to invest in Just Loans Group debentures.

However, debentures are unsecured debt instruments issued by companies to raise funds for a specific term, typically 2-10 years. Investors receive fixed interest payments during the debenture period and the full amount invested at the end of the term.

Debentures are high-risk investments only suitable for investors who can afford to lose their entire investment and aren’t considered a suitable investment for pension savings.

St Pauls Marketing failed to properly assess customers’ needs and circumstances. They also failed to advise investors of the high-risk nature of the investment. these failures have led many to lose their entire pension savings.

Can I recover my lost pension if I invested into Just Loans Group?

The short answer is yes.

St Pauls Marketing were authorised to carry out financial activities as an appointed representative of City One Securities until 11^th October 2015. After this date until 15^th August 2017 St Pauls Marketing were an appointed representative of Alexander David Securities.

Any claims or complaints made regarding St Pauls Marketing’s activities within these time periods should be put against the appointed representative as they have ultimate responsibility for their actions.

Since the FSCS completed their investigation regarding St Pauls Marketing, City One Securities & Alexander David Securities earlier this year, they have begun to issue decisions providing compensation to effected customers.

However, the FSCS are limiting the compensation to the date the first investment matured, was re-invested or exchanged, which has led to reduced compensation for many investors who re-invested their debentures under unclear circumstances.

The FSCS have capped my compensation – do I have any other options?

Even if the FSCS have capped the compensation they have awarded to you, you may still have another avenue to recover the remainder of the losses.

You can opt to appeal the decision to the FSCS if this is within the parameters of their appeals policy.

The FSCS may also consider complaints against other firms in relation to the same investment if there are other entities deemed to also be at fault. If you have loss your pension in Just Loans Group investment, you may qualify for further compensation.

Why choose Oakwood Solicitors? 

We are a regulated firm of Solicitors with over 15 years’ experience in financial mis-selling claims securing millions of pounds of compensation for our clients.

We operate on a guaranteed No-Win, No-Fee basis. Our charges are some of the lowest in the market when compared with other firms and in the line set by the Solicitors regulations authority.

You do not need to instruct a solicitor to pursue a claim at the FSCS.

We take the hassle out of the claims process as we do all the hard work for you. We will complete all the necessary paperwork and obtain all the required documentation to support your claim.

You will be allocated your own experienced pension claims handler who will keep you fully informed throughout the whole process.

If you have loss your pension in Just Loans Group investment,  you may qualify for further compensation. Contact us today for free further advice.

Further reading

Mis-sold pensions – Oakwood Solicitors

WHAT TO DO NEXT

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