Equitable Life Assurance Society FSAVC Mis-Selling Explained
If you were sold a Free Standing Additional Voluntary Contribution (FSAVC) by the Equitable Life Assurance Society, you may have been a victim of pension mis-selling. Many policyholders were advised to invest in FSAVCs when they would have been better off contributing to their employer’s occupational pension scheme. This has led to significant financial losses for thousands of individuals.
What Went Wrong with Equitable Life FSAVCs?
The Equitable Life Assurance Society was one of the UK’s oldest mutual insurers, but it faced severe financial difficulties in the early 2000s. During this period, many customers were encouraged to take out FSAVCs, often without being properly informed about the risks or the alternatives available to them.
Common issues with FSAVC claims include:
- High charges and fees that eroded returns
- Lack of transparency about performance risks
- Failure to advise customers that employer pension schemes were a better option
- Misleading projections about potential growth
Were You Affected by Pension Mis-Selling?
If you were advised to take out an FSAVC by Equitable Life Assurance Society, you might be entitled to compensation. Many policyholders were unaware that they could have received higher returns by staying in their workplace pension scheme.
Signs that you may have been mis-sold an FSAVC include:
- Your adviser did not compare the FSAVC with your employer’s scheme
- You were not informed about the risks or charges
- You were pressured into transferring existing pension funds
How to Claim Compensation
If you believe you were mis-sold an FSAVC, you could be owed thousands in compensation. Specialist claims handlers can review your case and help you recover what you’re owed.
At People’s Expert, we help individuals navigate the claims process with ease. Our team of experts can assess whether you have a valid claim and guide you through every step.
Contact People’s Expert today to find out if you’re eligible for compensation and take the first step toward securing your financial future.