Pearl assurance pension mis-selling

Mishaps123

Anybody familiar with 'Guarantee Certificates' said to have been issued by Pearl in respect of pensions mis-sold by them.
The Guarantee Certificate is said to 'guarantee to give you benefits worth at least the same as those you would have received from your occupational pension scheme'.
I was mis-sold pensions by Pearl.
It took me 10 years, plus the involvement of the FSA, to prove my case.
Until recently I had never even heard of the Guarantee Certificate. I only received a derisory compensation payment to my pension plans, which I argued would be insufficient.
It fell on deaf ears at the FSA, who were woefully ineffectual. Surprise, surprise as I predicted it has come to pass and left me massively short on my pension.
Pearl will not tell me why I was not offered a Guarantee Certificate, nor the circumstances of their issue.
Desperate for anyone who knows anything about this subject. Thanks

dunstonh

Pearl used two redress methods. One was to give compensation at the point of complaint and that was your final offer. The other was to review the pension at commencement and address the shortfall at that point.

I think it had more to do with the type of pension and how it fell under the pension redress rules. e.g. someone who was opted out with a personal pension would be treated differently to someone who transferred their scheme using a section 32 buy out bond (Pearl's was called a freedom bond). It would also depend on the info a company could give to allow a redress calculation to be made.

The FSA dont tend to get involved in these things. It is not within their remit. So, its not a surprise you are not happy with them.