Did you transfer out of a Barclays Bank Pension?
Defined Benefit schemes are a dying breed. Nowadays very few companies still operate Defined Benefit or final salary pensions. People who have a pension of this type are entitled to retirement benefits that are 'defined' in advance by the pension scheme. The income received is based on the income during membership of the scheme and continues to pay out until the death of the member.
Private pensions can run out and have, in too many cases, been ill advised causing detriment after transferring away from a valuable Defined Benefit scheme. A decision to transfer from a Defined Benefit pension can be a life changing event and should only be undertaken with serious consideration. Unfortunately, when a transfer goes wrong it can drastically change your plans for your retirement and affect the quality of life you had planned for yourself and your loved ones.
Losses can be as much as 50% of benefits over time which is far less than the final salary scheme would have paid out and cost to run in annual fees. Due to the concern about the numbers of people transferring from these types of dependable pensions after being given negligent financial advice, you may wish to consider checking to see if unsuitable advice has applied to you. At ACL Consultancy we can help you ascertain if you are entitled to make a claim.
Why don’t you contact us for an informal chat to explore your options? Our fees are reasonable in comparison to solicitors or other firms, as we don’t buy data from third parties or operate call centres.
Our initial pension claim consulting chat (or multiple if you should have further questions) is free of charge and a pension claims expert will be happy to give you an idea as how to progress a complaint yourself or assist you with the process.
And you’ll only ever pay on success – once you’ve received your money redress – and are satisfied with the service we have provided.
Get Claims Advice now, call 0333 358 0074.