Liverpool-based financial adviser firm Smith,
Law & Shepherds IFA Ltd is the latest to close its doors.
Moving from a final salary, also known as a defined benefit, pension scheme is rarely a good idea as it usually means moving to a scheme that is less beneficial. The Financial Conduct Authority (FCA) estimates that almost half of steel workers were given unsuitable defined benefit transfer advice. A huge compensation package has been put in place, with payouts starting in 2023.
Commenting on the recent news, Head of Professional Negligence at TLW, Sarah Spruce, said:
“The value of these claims can be significant, with many clients not appreciating how much they have lost until we obtain a current valuation from their previous pension provider. This valuation gives an indication of what the pension would have been worth had it not been transferred. If you are concerned about any pension investments with Smith, Law & Shepherds get in touch with our team, and we can look at the case on a no win no fee basis.”
TLW Solicitors has a dedicated team that deals with defined benefit transfer claims, including British Steel claims. Whilst some of these British Steel pension transfers were made many years ago, you may still be able to claim compensation, so please get in touch for an initial, no obligation consultation.
Time limits apply, so it is important to get advice as soon as you can.
Meet Sarah, who heads up our experienced Pension Claims team.
Sarah and her colleagues are on hand to help with your claim.
- Always fight your corner.
- Explain anything you don't understand.
- Provide full transparency on our charges.
- Never ask for any upfront payment.
- Recover the best compensation we can.
- Keep your personal information safe.
- Respond quickly to any queries.