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Missold pension calculation
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Townhead_2
Posts: 4 Newbie
Having made a complaint about a missold pension this was conceded but the calculation of compensation was based guidelines from April 2003 which don't cover the loss.
I was originally persuaded to transfer from a guaranteed pension of approx £5k pa to a policy which now has a fund of only £12k when a fund of probably at least £70 k would be needed to generate a £5k pension.
I was offered only £30k which I then complained about to the ombudsman but he tells me that the April 2003 guideline is correct so tough!
Is it worth going to court possibly on a no win no fee basis to try to get some of the obvious shortfall?
I was originally persuaded to transfer from a guaranteed pension of approx £5k pa to a policy which now has a fund of only £12k when a fund of probably at least £70 k would be needed to generate a £5k pension.
I was offered only £30k which I then complained about to the ombudsman but he tells me that the April 2003 guideline is correct so tough!
Is it worth going to court possibly on a no win no fee basis to try to get some of the obvious shortfall?
0
Comments
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duplicate post, please use other thread.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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