Do you know where your SIPP is invested?
If it is a UCIS (unregulated collective investment scheme) this could include forests in Central America or housing developments in Cape Verde, a car park, store pods or property that doesn’t exist!
Do you know the risk level of your UCIS?
Your adviser should have explained the nature of the underlying investment to you and ensured you were happy to proceed. Some unregulated investments are purely for experienced investors and the majority of pension holders should not be advised to invest in these schemes
How much does the UCIS charge you?
The chances are that you’re paying two sets of charges, one for the SIPP and one for the UCIS — and this will reduce the monthly contributions.
Can you afford to lose your SIPP?
If anything went wrong, you possibly wouldn’t be eligible for compensation.
If it’s unregulated, you may not have any protection. TLW Solicitors offer advice on how to reclaim compensation for a mis-sold SIPP, contact us today we can check your contracts for your peace of mind.
TLW Solicitors are here to help on a no-win no-fee basis. Fill in our enquiry form, email us at firstname.lastname@example.org or call us today.