How do you know if you have a mis-sold pension? Experts can give you the right advice regarding the pension scheme. It is important to get in touch with the right expert for your personal pension. This is just to ensure your safety and security in the future and it will also help you lead a comfortable life throughout your retirement. When pension schemes are mis-sold, it can lead to a lot of confusion which can result in stressful retirement.
Can you do anything about your mis-sold pension?
Of course, you can! Many people do not have awareness about pension schemes and if they are mis-sold, they think that’s the end of it. However, that’s not the case. With expert knowledge, proper guidance and correct advice, you can claim the compensation which is equal to getting justice. You can reclaim your finances that are lost due to the wrong scheme.
How do you know it was mis-sold?
Did the pension advice warn you about the risks?
Pension advisers should explain the scheme properly and they should tell you’re the pros and cons of the scheme. Before you select a pension scheme, you need to consider the risk and if you approach a pension adviser, he should explain it to you clearly. If you don’t have paper work or if you are not aware of the risks, you can possibly have a case for compensation.
Financial background check
Did the pension adviser analyse your financial background? Did they ask about the history or did they make assumptions? Only if the financial background is analysed, the pension advisor will be able to direct you a scheme that is good for you. If you think they haven’t done the background check properly and failed to make a note of the financial situations, you can have a case along with evidence.
Was all the information recorded?
Did your pension advisor listen to your properly and made a note of your requirements? If you feel they did not consider all the requirements, you can have a case for compensation.
Did you know the fee involved?
It is important that the advisor should talk to you about the cost involved in your pension scheme. If they have failed to inform you the cost and you were left in a surprise when you saw the bills, you must understand that it’s a mis-sold pension.
Do you know how much you would receive from your pension?
It is highly important to know your pension payouts and the total amount you would receive. If they have failed to explain, you have the right to claim compensation. Ensure you have a record of the discussions so that you can take next action.