The Ultimate Guide To Mis-sold Pensions
If you are over 50 and a victim of a mis-sold pension or investment then this is the article for you.
The amount of people being mis-sold pensions is massively increasing, affecting many lives around the world. Missing out on financial benefits is something no one deserves, so when it comes to dealing with pensions, it is recommended to seek professional support. Your pension is one of your biggest assets and therefore should be looked after by professionals who specialise in this department.
What types of pensions do I have?
If you are unsure as to what pension plan you have, the best thing to do is to get in contact with your pension provider. They will explain all the details about your scheme, including the type, what charges you pay and the progression of your pension. Get Claims Advice can point you in the right direction with their extensive experience in finance, legal services, and compliance.
When can I take out money from my pension?
Normally, you can start taking money out of your pension pot from the age of 55 if you want to. However, you may be able to withdraw your pension earlier if you’re retiring because of poor health or disability, but the rules are different for every pension scheme.
Signs that you are a victim of a mis-sold pension
Many mis-sold pensions are often the result of a lack of financial advice from your adviser. It is crucial that you look into the company credentials before you come to a decision. Terms and conditions are contractual points, such as payment terms, limitation of liability and delivery terms. Having these explained to you properly means less risk of signing up to a contract which is irrelevant, unenforceable or more toxic than anticipated.
Did your financial adviser give you a limited choice of pensions? If you discover that your financial adviser didn’t provide you with the full range of pension options, then you could make a valid claim for being mis-sold. The adviser should ask relevant questions about your circumstances to decide which pension will be the most beneficial to your needs. To find out if you could make a mis-sold pension claim, request a free call-back with one of Get Claims Advice specialist’s today.
How much should I save into my pension?
Pension experts suggest 12-15% of your salary is a good figure to aim for. Depending on how near retirement you are, it is recommended seeking expert advice from a financial adviser.
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