Have you lost retirement income by transferring out of the Teachers’ Pension Scheme?
Despite concerns about recent changes to teachers’ pensions, as they are a final salary pension, a form of Defined Benefit pension, they are often regarded as being more beneficial than most private pension schemes on the open market. Final salary pensions generally keep in line with inflation and death benefits are often more generous than private schemes.
Whilst teachers’ pensions are a dependable source of retirement income with many benefits, some teachers have been persuaded to transfer out of the Teachers’ Pension Scheme and have lost out as a result.
Compensation for Negligent Financial Advice
If you or a loved one have worked in the teaching profession and have transferred out of the Teachers’ Pension Scheme following negligent financial advice, in turn, reducing the value of your pension pot, then you may be able to claim compensation.
Until we get an up to date valuation of the pension that they would have had, clients often do not realise how much they have lost out, which quite often is a significant amount.
TLW Solicitors can help
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 teacher’s widow/er 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 pension advice, please call us on 0800 169 5925 or use our online form and our team will contact you for an initial, no obligation 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.