-
What can I claim if I have lost money investing in a Family Pension Trust?
As well as being entitled to claim towards the amount which you invested, you may be able to claim:
- Fees paid to the advisor who arranged the pension transfer;
- Fees paid to the FPT scheme administrator;
- Money you would have made if your pensions had remained where they were
(loss of pension growth)
A Family Pension Trust (FPT) is a cross between a small self-administered scheme (SSAS) and a self-invested personal pension (SIPP). Each scheme it establishes is registered separately with HM Revenue & Customs. FPT’s are often used for small family business pensions or husband and wife couples wishing to share their pension.
Whilst your FPT might be suitable for your needs, the investments made within it may have resulted in losses to the pension.
Did you get financial advice on setting up the FPT?
Have your funds been invested into high risk investments?
If the answer to each of these questions is yes, then you may have been mis-sold your FPT and you should get specialist legal advice about what to do next. In a case recently settled by the specialist financial mis-selling team at TLW Solicitors, the FPT was set up for members of a family business.
Unfortunately, the investments made within the FPT were not suitable for their needs, resulting in significant losses to the family’s pension fund. The expert pension mis-selling solicitors at TLW were able to successfully claim compensation for all four members of the FPT.
Get in touch
If you think that you, a friend or loved one may have lost out by transferring your/their pension fund into a Family Pension Trust, then please get in touch with one of the specialist financial mis-selling lawyers here at TLW Solicitors for a free, no obligation discussion.
