Reclaiming for SERPS opt out miss-sell

Delhibelly

Hi -I have been telephone canvassed by a company (quoting the Ministry of Justice) informing me that when I opted out of SERPS 20 years ago if I had been misadvised/missold a personal pension I may be able to claim around £5000 per 5 years opted out.I believe this might well be the case.Only thing is ,they want £640 up front & 12% of the claim if they win.Has anyone out there claimed? Is there a cheaper way of doing this? Are they legit? HELP!

gaz310

Mrs Gaz310 has just had the same call
very strange who gave them our details etc...

dunstonh

This is an FAQ. Do a forum search on Morgan Green or Tekram Goldberg.

Bascially, these companies cold calling you are scams.

informing me that when I opted out of SERPS 20 years ago if I had been misadvised/missold a personal pension I may be able to claim around £5000 per 5 years opted out.

Really? What were their reasons for believing you were mis-sold?

Did they also tell you that if you get the complaint upheld that the cash doesnt end up in your pocket but is added to the pension leaving you to find the 12% plus VAT out of your own pocket?

Did they also tell you that the FSA did a review of contracting out and found a failure rate of just 1.5% on contracting out. Basically if you were aged under 45 (men) or 40 (women) at the time you contracted out then you were not mis-sold. Everyone contracted out before 1996 was financially better off when the SIB reviewed it back then and nowadays it is considered a cost neutral option to contract out although the benefits of contracting out still appeal to many people.

If you do a search you will find links to the FSA document giving you a flow chart to help you see if you were mis-sold.

I believe this might well be the case.

Why?