- Unsuitable high-risk investments: When a pension advisor recommends investments that are too risky for a client’s circumstances, this could be considered mis-selling.
- Cold calling: Cold calling, or unsolicited contact from a pension advisor, is often used as a tactic to sell pensions that may not be in the best interest of the client.
- Failure to explain charges: If a pension advisor does not fully explain the charges associated with a pension scheme, this can be considered mis-selling.
- Transferring out of a defined benefit (DB) pension: In some cases, individuals may be encouraged to transfer out of a DB pension into a personal pension plan without fully understanding the implications of such a transfer.
- Unnecessary pension switches: In some cases, individuals may be encouraged to switch pensions even when it is not in their best interest, for the benefit of the advisor or provider.
- These are just a few examples of mis-sold pensions in the UK. It’s important to remember that each case of mis-selling is unique and the type of mis-selling can vary widely.
These are just a few examples of mis-sold pensions in the UK. It’s important to remember that each case of mis-selling is unique and the type of mis-selling can vary widely.
If you feel you may have been affected by any of the above reach out for a chat.