Mis Sold SERPS

State Earnings Related Pension Scheme.

SERPS Opted Out complaint grounds

In order to make a claim for compensation you must Normally fall into one of two categories for complaint. The basis of a complaint is not in respect of how badly the SERPS insurance policy actually performed but whether or not proper advice was given on such financial arrangements and in particular whether you were warned that these policies of insurance may not perform as anticipated in the event of the overall financial climate changing thereby reducing initially anticipated returns based on projected profitability of investments made, effectively on your behalf, by the company concerned.

The SERPS Opted Out complaint grounds, that may lead to a financial settlement, but which are not exclusive include:

· Suitability of the SERPS pension policy.

· A financial adviser who acted properly should have ensured that a SERPS pension policy was suitable based on your financial circumstances at the time and your attitude to risk. Items which may indicate unsuitability include:

· Not explaining in detail both the government opted in and the insurance policy opted out schemes.

· Failure to explain about the stock market, investments and risks involved.

· Non disclosure of the costs involved in running an insurance policy and that should the policy be made paid up before maturity charges would continue to be levied and a poor return would be inevitable.

· Inappropriate promises or absolute guarantees of being better than or replacing the governments guaranteed scheme on maturity.

· The policy sale failed to comply with the regulations resulting in a SERPS policy mis sale.

Financial advisers are legally obliged to follow the rules set out by government financial regulators and failure in this regard may lead to a verifiable claim for compensation. These failures may include:

· Salary and pivotal age guidelines were not adhered to at the point of sale.

· Failure by the adviser to outline fees and charges and their effect over the term of the policy.

· The adviser did not complete a fact-find during the sales process.

RCL ME give FREE advice and guidance on what steps can be taken to recover your financial loss.