Have you transferred out of a Barclays Bank defined benefit pension?
The well-known UK bank, Barclays, offers a pension scheme that is rarely advisable to transfer out of. You may be entitled to compensation if you or a loved one have transferred out of a Barclays Bank UK Retirement Fund pension.
Moving from a final salary, also known as a defined benefit or company pension scheme is not often a good idea. However, many Barclays Bank workers may have been advised by Independent Financial Advisers (IFAs) to transfer their pension into private schemes, including Self Invested Personal Pensions (SIPPs). In turn, they may have lost out by no longer having a guaranteed retirement income.
As final salary pensions are very solid and dependable, there must be a good reason to transfer from this into another private pension, including SIPPs.
Compensation for negligent pension transfer advice
TLW Solicitors specialise in helping clients who have been given negligent final salary pension advice and have been mis-sold a pension transfer. Whilst some of these transfers may have been made many years ago, it may still be possible to claim compensation if you are a Barclays Bank worker’s widow or if the Independent Financial Adviser has gone out of business, has been taken over or changed its name.
Until our specialist team of financial mis-selling lawyers get an up-to-date valuation of the retirement pension that our clients would have had, clients often do not realise how much they have lost out, which can be a significant amount.
TLW Solicitors can help claim for pension transfer mis-selling
If you are concerned that you or a loved one were not given the right advice about leaving a Barclays Bank pension, please call us on 0800 169 5925 or use our online form and our team will contact you for an initial, no-obligation consultation.
It is important to get advice as soon as possible as strict time limits can apply.
For added TLC, think TLW Solicitors.