Mis Sold SERPS

SERPS Misselling claim media comments. For further clarification contact us and one of our advisers will conduct a FREE REVIEW, before advising on the most suitable way forward for submitting your Opted out SERPS Misselling claim.

State Earnings Related Pension Scheme.

SERPS Opted Out media Comments

PricewaterhouseCoopers, in November 2002, gave as an example: 'Someone reaching 65 who contracted-out for five years in the late Eighties or early Nineties. Their pension is about £420 a year. But their dull and boring SERPS pension - that they voluntarily forfeited - would have been worth £720 a year. (Source: Guardian Unlimited November 10, 2002)

It is estimated that advisers, who are the subject of mis-sold pension compensation claims, would have made about £1,000 per client in commission if they had advised someone to contract out in 1988. (Source: Money. Telegraph 4 July 2005)

An independent review of past decisions to contract-out of SERPS in favour of an Appropriate Personal Pension Policy has identified an average shortfall of £8,900 for each pension fund. (Source: Oxford Actuaries and Consultants (OAC) August 2005)

Britain's chief City watchdog yesterday said millions of people who opted out of the second state pension scheme had lost money and warned financial companies that they could face another mis-selling investigation as a result. (Source: Money. Telegraph 23 August 2005)

"Campaigners were claiming a notable victory last week, with news that Prudential had agreed to pay compensation to one such saver after an 18 month battle. Pensioner Michael Ford’s contracted-out private scheme produced an income that was worth £200 a year less than he would have received from the state under SERPS" (Source: Paul Lewis BBC Radio 4's Money Box 12 Nov 2005)

Six million people are to get a letter from their pension provider advising them to review their move to contract out of SERPS.

(Source: BBC News 5 October, 2004)

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