Have you transferred your British Coal final salary pension?
If you or a loved one have transferred out of the British Coal pension scheme, then you may be entitled to compensation. Moving from a final salary, also known as a defined benefit, scheme is rarely a good idea, however many coal miners were told by financial advisers to transfer their pension to a private scheme and may have lost out.
As final salary pensions, through the Mineworkers Pension Scheme and British Coal Staff Superannuation Scheme, are a very solid and dependable source of retirement income, there must be a strong reason to transfer this into a riskier private pension.
The advice to transfer was given by a range of Independent Financial Advisers, including agents from some well-known and trusted brands such as:
- Abbey Life
- Aegon UK
- Allied Dunbar
- Friends Provident
- Legal & General
- Lloyds TSB
- Norwich Union
- Pearl Assurance
- Scottish Amicable
- Scottish Widows
- Standard Life
- Sun Life
TLW Solicitors specialise in helping clients who have been given negligent final salary pension advice. Whilst some of these transfers were made many years ago, you may still be able to claim compensation if you are a miner’s widow or if the Independent Financial Adviser has gone out of business, has been taken over or changed its name.
If you feel that you or a loved one weren’t given the right advice, please call us on 0800 169 5925 or use our online form and our team will contact you for an initial consultation, we can then let you know if we can help. Time limits apply, so it is important to get advice as soon as you can.
For added TLC, think TLW Solicitors.