Are You Receiving All Pension Money You Are Owed?

mis-sold pension retirement account

While it can be argued that there are more business opportunities at the present than ever before, it is also a fact many entrepreneurs are struggling to make financial ends meet. This is even more problematic when we consider that a growing number of older adults are choosing to work later into their lives. It is therefore obvious that liquidity is essential in this day and age. Unfortunately, many individuals could very well have been mis-sold certain financial products in the past. Do you feel that you are a victim? If so, there are a number of options at your disposal. The first question to answer involves if you may be able to file a claim. Let us take a look at some of the most common mis-selling practices before moving on to discuss the subsequent steps you can take. 

Red Flags To Watch Our For With Pensions

Whether referring to a mis-sold pension, SIPP or similar policy, there are a handful of factors that tend to indicate that less-than-transparent practices have taken place. These include: 

• Feeling unduly pressured to make a decision. 
• Not fully understanding the associated terms and conditions. 
• A representative who fails to answer your questions in a timely manner. 
• You were not made aware of subsequent fees and charges. 
• You were promised that the financial package would provide better returns. 

As many financial representatives are often motivated by high commissions, they can sometimes be tempted to misrepresent a product. The main issue here is that countless customers are unaware that they could be entitled to some form of compensation. Assuming that you have indeed been a victim of mis-selling, what are your options? 

What Can You Do To Claim Remuneration? 

The first logical step is to speak with a professional firm specialising in financial claims. These experts will be able to analyse your unique situation in order to determine if it is possible to move forward. In the majority of cases, you will not be charged any type of fee unless a claim is approved. While it may be possible to "go it alone" and to contact governmental organisations such as the Financial Ombudsman or the Financial Conduct Authority (FCA), the fact of the matter is that this can often be a long and complicated process. Furthermore, your claim may very well be denied due to issues such as a lack of substantive information. This is why seeking the advice of professionals is always the best choice. 

Pension Problems

A mis-sold pension scheme can place a massive drain on any business venture. Unfortunately, recent studies have shown that as many as 1.3 million consumers from across the United Kingdom feel that they have experienced such a situation in the past. This is why it is important for you to take action sooner as opposed to later. If you feel that filing a claim may be justified, it is crucial to contact a professional claims service at your earliest possible convenience.

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