tekram Goldberg

harryj_3

I know you have already covered this subject. I to have been contacted by this company several times a week. I was just about to go ahead and send my £500 to them and I can tell you it was a struggle getting the money together. It is very temping to think I might win a claim and get quite a few thousand back. But then I thought I'd look on the internet and see if I can find any information about this and come across your site and read what you had to say which quite shocked me as I was ready to write a cheque to them.:undecided

My question is - Has anyone ever won a claim with this Compay for opting out of serps?

dunstonh

Even if you win, you arent going to get a few thousand back. Pension redress is paid into a personal pension. You dont see the money as a lump sum. If they are taking a percentage of any redress and your complaint is upheld, you will have to find that percentage out of your own pocket. If you are unable to pay, then expect them to take you to the small claims court.

Any product can be mis-sold. Having Serps contracted out doesnt make it a mis-sale.

defender_of_the_weak

Never pay anything up front and especially not to a compnay requesting 500 to 'initiate your claim'. Up front payments are a con designed to turn no win no fee into a guaranteed win win for the company.

As of yesterday this company was not authorised, as all such companies should be in two weeks time. If you want to use a company look up the Guardian website or go to https://www.claimsregulation.gov.uk and find a company on there that specialises in financial services complaints.

Do not send 500 pounds to anybody

harryj_3

Thanks for all your replies.:beer:

d0lphin

My husband, who is usually very careful with our money, is convinced he's going to get compensation from this company. We have a letter in front of us which he only has to sign stating that if we are unsuccessful with our claim we will receive £400 of the £500 back.
I am going demented as I am sure this is a scam but he think everyone that says anything against this company is out to blacken their name to get you to use their company instead.[the sales people have been very, very persuasive over the phone]

So I am bumping this thread to see if anyone has actaually had compensation from them - help!

[urgent replies please as he wants to sign the paperwork asap] :eek:

dunstonh

This company is acting illegally. Claims companies have to be authorised to trade in this country. TG are not.

So, if your husband wants to give your money to a company acting illegally then you really need to put your foot down.

Only one person on this thread operates a claims company but we all agree and none of us have any interest financially in what you do.

Their phone people are on commission. Of course they are persuasive. No doubt they told your husband that contracting out was the wrong thing and that there is money of around £15000 coming your way. I bet they didnt say that the FSA did a full review of contracting out cases and found less than 5% of cases were identified where people contracted out, outside of the pivotal age (older than 45 depending on the year involved). They found no evidence of widespread mis-selling and at this time around half the people contracted out are financially better off (meaning half are not). However, the differences are very small. Also, the FSA said that the review was based on rules that were in place at the time of the recommendation and not current rules and any complaints would consider that as well.

I bet they also didnt mention that even if you did get a pay out, that you dont get the money. It gets added to your pension. However, you have to pay the percentage plus VAT out of your own pocket to TG.

Look at the genuine authorised claims companies and you will see that they arent bothering with contracted out as you have a very very tiny chance of success. This is why TG want to charge you up front because either way, they have made £500 odd quid for a template letter that is identical in every case they send in (so 2 minutes work).

I bet they didnt tell you that TG was based in Malaga so you have absolutely nil chance of getting your money back if they dont want to pay it to you.

http://money.guardian.co.uk/weekly/story/0,,1728085,00.html
read about half way down.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/12/19/cmserps20.xml
article released before the FSA review

http://boards.thisismoney.co.uk/tim/threadnonInd.jsp?forum=89&thread=68291&message=135800
more happy people... not.

TG are crooks. No other way to put it.

SShen

harryj wrote: »

I know you have already covered this subject. I to have been contacted by this company several times a week. I was just about to go ahead and send my £500 to them and I can tell you it was a struggle getting the money together. It is very temping to think I might win a claim and get quite a few thousand back. But then I thought I'd look on the internet and see if I can find any information about this and come across your site and read what you had to say which quite shocked me as I was ready to write a cheque to them.:undecided

My question is - Has anyone ever won a claim with this Compay for opting out of serps?

Yes - my claim and views as a result as follows:-

With the help of Tekram Goldberg my contracted out pensions company (Friends Provident) have now increased my pensions pot by some £6000. However, when sold Tekram Goldberg's services they lead me to believe this would be c. £1000 per year (so a total of £11,000+) and they did not state that this would be added to the pension pot, thereby leaving me out of pocket to pay their fees. They gave the full impression that I would be in pocket if the claim was successful. In ringing them up afterwards to discuss this, their sale's team have failed to ring me back or provide any satisfactory explanation on this point. So I could have a case for mis-selling by TG (for the case they represented of mis-selling of a personal pension!!) and they are not government regulated as is required.
I would however say that this claim on a SERPS/S2P pension was successful, countering other comments I have seen on the Internet, and possibly going against the advice of The Pensions Advisory Service (TPAS), the Government's pension information agency, who state that only 1 in 3 claims succeed, and to hold fire on a claim till the FSA have completed its investigation. Who knows, this could be years, arguably the compensation could be better but you would probably avoid paying so much in fees.

EdInvestor

Tekram Goldberg seems to have got itself regulated now

http://www.claimsregulation.gov.uk/search.aspx?search=simple&business=Tekram%20Goldberg&authID=&type=-1&sector=4&county=-1&region=-1&status=-1

dunstonh

I would however say that this claim on a SERPS/S2P pension was successful, countering other comments I have seen on the Internet, and possibly going against the advice of The Pensions Advisory Service (TPAS), the Government's pension information agency, who state that only 1 in 3 claims succeed, and to hold fire on a claim till the FSA have completed its investigation. Who knows, this could be years, arguably the compensation could be better but you would probably avoid paying so much in fees.

The FSA have already completed their review and it was found that less than a few percent were possible mis-sold. The general rule of thumb now with contracting out complaints is for them to be rejected unless outside of the pivotal age or investment attitude to risk.

Tekram Goldberg seems to have got itself regulated now

Still wouldnt touch them with a barge pole. They cold call in breach of rules and they tell lies to get people to pay them up front.

EdInvestor

It would be interesting to hear more information about the grounds for the successful misselling complaint.

AUSSY_2

dunstonh wrote: »

This company is acting illegally. Claims companies have to be authorised to trade in this country. TG are not.

So, if your husband wants to give your money to a company acting illegally then you really need to put your foot down.

Only one person on this thread operates a claims company but we all agree and none of us have any interest financially in what you do.

Their phone people are on commission. Of course they are persuasive. No doubt they told your husband that contracting out was the wrong thing and that there is money of around £15000 coming your way. I bet they didnt say that the FSA did a full review of contracting out cases and found less than 5% of cases were identified where people contracted out, outside of the pivotal age (older than 45 depending on the year involved). They found no evidence of widespread mis-selling and at this time around half the people contracted out are financially better off (meaning half are not). However, the differences are very small. Also, the FSA said that the review was based on rules that were in place at the time of the recommendation and not current rules and any complaints would consider that as well.

I bet they also didnt mention that even if you did get a pay out, that you dont get the money. It gets added to your pension. However, you have to pay the percentage plus VAT out of your own pocket to TG.

Look at the genuine authorised claims companies and you will see that they arent bothering with contracted out as you have a very very tiny chance of success. This is why TG want to charge you up front because either way, they have made £500 odd quid for a template letter that is identical in every case they send in (so 2 minutes work).

I bet they didnt tell you that TG was based in Malaga so you have absolutely nil chance of getting your money back if they dont want to pay it to you.

http://money.guardian.co.uk/weekly/story/0,,1728085,00.html
read about half way down.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/12/19/cmserps20.xml
article released before the FSA review

http://boards.thisismoney.co.uk/tim/threadnonInd.jsp?forum=89&thread=68291&message=135800
more happy people... not.

TG are crooks. No other way to put it.

Hey Dunston ,
I have to agree with you on this one I actually know someone who got cold called and paid £500 pounds for a claim and they heard nothing more after several calls and emails ,but they are authorised by the MOJ how can that be,so they are legit .