Mis-Sold Armed Forces Pensions: What Veterans Need to Know
For many veterans, their Armed Forces pension represents years of dedicated service and a crucial part of their financial future. However, some may have been misled into transferring their pensions, leaving them worse off than they expected. If you suspect you’ve been a victim of a mis-sold Armed Forces pension transfer, it’s important to understand your rights and options.
Understanding Armed Forces Pension Transfers
The Armed Forces Pension Transfer scheme allowed service members to move their pension benefits out of the military scheme and into a private arrangement. While transfers can sometimes be beneficial, many veterans were not given the full picture—especially when it came to final salary transfers, which often provided guaranteed benefits that were lost upon transfer.
Common issues include:
- Being pressured into transferring without proper advice
- Not being informed of the risks or loss of guaranteed benefits
- Receiving unsuitable advice from unqualified financial advisors
Were You Mis-Sold Your Pension Transfer?
If you transferred your Armed Forces pension and later discovered that you were worse off, you may have grounds for a financial claim. Key signs of mis-selling include:
- The advisor didn’t explain the risks of transferring
- You were promised higher returns that never materialised
- You lost valuable benefits, such as inflation protection or spouse’s pension
What Can You Do About It?
If you believe you were mis-sold your pension transfer, you may be entitled to compensation. Many veterans have successfully reclaimed lost funds by seeking professional help. The process involves:
- Reviewing your pension transfer paperwork
- Assessing whether you received proper advice
- Submitting a claim to the Financial Ombudsman or Compensation Scheme
Get Expert Help Today
At People’s Expert, we specialise in helping veterans reclaim what’s rightfully theirs. If you think you were mis-sold your Armed Forces pension transfer, don’t wait—take action now. Our team can guide you through the process and help you secure the compensation you deserve.
Contact People’s Expert today to discuss your case and start your journey towards financial recovery.