Mis-sold Pension?

Benjimum

Looking for advice on following including anyone who could help if appropriate. I started work in the 1980's and the company I was working for ran a non contributory pension that I was in, a family associate became a financial advisor and persuaded me to come out of that and get a contributory pension that he organised. When pension mis selling came on the radar in 90's he phoned me and let me know that I would be expecting a form in the post from FSA? and to sign it and send it to him to fill in. After this he moved my pension to another provider. Does this sound like I have a case for mis selling or is this too late? How do I look into in?

dunstonh

It sounds like you were missold as on no planet is a contributory pension better than a non-contributory one.  Free money vs one that has cost you fully.

All pensions sold between 1988 and 1994 had a mandatory review that was proactive. They had to contact you.   You would answer the questions on the form, return it and sit back and wait until you were told the outcome.

Whether you moved the pension or not had no impact on the review.

Did you ever get a reply?  if not, then you should contact the selling company and make them aware of what happened.

Benjimum

The financial advisor advised to send form (signed) to him for him to fill it n and he then moved the pension again to another firm and in doing so said they managed to hold back £1500 (approx) from the pension. Don't think I received a reply from the form.

DaveMcG

I worked for a company that was carrying out these reviews in the late 90s.  Advisers were clearly instructed not to discuss the form or its completion, but to direct customers to the unit carrying out the work.  I would imagine that this was standard practice in larger firms (smaller firms didn't generally send out the SIB (later FSA) form).  

You should write to the company detailing what happened and asking for an investigation.  You can pass your case to the Financial Ombudsman if aren't happy with the result of the investigation.