Company Pensionhelp Ltd

cooky44

Hi

I have been referred to use a company called Pension Help Ltd - http://pensionhelp.co.uk
Does anyone know of them - any reviews anywhere I can read up on.
Thanks

Malthusian

How were you referred?

If the answer is "I was cold called" then stay well clear.

You are unlikely to find any useful reviews specifically about this company because they were only authorised by the FCA in 2017, which means that for anyone who has used them it will typically be at least three years before they know whether they got a good deal or not.

cooky44

No not cold called - Advised by an iFA to use them

Malthusian

In that case they appear to be a firm that outsources defined benefit transfer advice for advisers who do not have the necessary qualifications and permissions to do it themselves.

There are no clear red flags but ideally you would use an IFA that is able to give the advice themselves from beginning to end, and does not need to outsource to a third party whose website is riddled with errors. ("Do you have clients that need financial salary advice?" "One of our expert pensions advisers will speak to your client about background of case" etc.)

But as long as they are charging you a reasonable amount, the advice is suitable and, should they recommend a transfer, the new arrangement is with an FCA-regulated investment platform holding a diversified portfolio of mainstream regulated collective investments with well-known providers, then there is unlikely to be a problem.

Dark_Magic

I would still be careful. They seem to use contingent charging, so only get paid if they recommend a transfer. You’re not going to get unbiased advice and it will cost thousands for the ‘privilege’.

Use an IFA who charges an upfront fee and can do all of the work themselves.

xylophone

Find a Pension Transfer Specialist if that is what is required.

https://adviserbook.co.uk/

When the menu comes up tick confirmed independent and pension transfer.

MallyGirl

and you signed up today just to tell us that?

MightyMythop

Our advice firm have fairly recently linked up with Pensionhelp and a lot must have changed since July 2018.

Their review process was very comprehensive for the couple of clients we have thus far referred which included a full review of our clients circumstances and also very in depth phone conversations with the clients directly and on both occasions the advice was not to transfer the DB schemes.

Our firm did have the qualifications and the permissions, however the increase in PI insurance since the British Steel scandal has caused many smaller firms to outsource these kinds of enquiries.

Little_Miss_Wright

Thank you for your help.

It does seem to be more than I understand though. Can anybody recommend a claims management company who would do this for me?

Aegis

Little_Miss_Wright wrote: »

Thank you for your help.

It does seem to be more than I understand though. Can anybody recommend a claims management company who would do this for me?

You don't need one, and could potentially be taken for a ride if you go looking for one. It's not unexpected to see them charging 35% + VAT of any amount recovered, ultimately for just sending a couple of stock forms.


All you need to do to complain is make any expression of dissatisfaction to the companyh that advised you. It's then their responsibility to investigate the case andf provide a final response within 8 weeks. At that point you can go to the Ombudsman using their form, which is a little more prescriptive but still fairly straightforward. There will be people here who can help .