In deciding to move their pensions, often to Self-Invested Personal Pensions (SIPPs), many steel workers were advised by Active Wealth who entered liquidation in February 2019 after the firm was told to cease any pension transfer activity by the Financial Conduct Authority (FCA) months earlier.

As final salary pensions are a very solid and dependable source of retirement income, there must be a strong reason to transfer this into some other private pension scheme.

TLS Lawyers help clients who have been given negligent final salary pension advice.

Whilst some of these transfers were made many years ago, you may still be able to claim compensation if you are a steel worker’s widow or if the Independent Financial Adviser has gone out of business, has been taken over or changed its name.

The value of these claims can be significant, with many clients not appreciating how much they have lost until we obtain a current valuation from their previous pension provider. This valuation gives an indication of what the pension would have been worth had it not been transferred.

If you feel that you or a loved one weren’t given the right pension advice, please contact us and our team will contact you for an initial, no obligation consultation, we can then let you know if we can help.