SERPS - Claiming Compensation

[russ_e]

Has anyone here made a claim for being mis-sold a policy that contracted you out of SERPS?

Im looking at starting a claim and the cheapest firm i can find charge 15% plus vat.

Cheers

Russ

[percy flage]

15% plus VAT of what?

[russ_e]

of any compensation made

[percy flage]

Go direct to the provider. Tell them you believe you have been mis-sold and why you feel this is the case. They are (within certain constraints) bound to investigate your claim. The onus is on them to show that the plan was appropriate for you and that the risks - that you could get less out when you retire than SERPS would give you - were all pointed out.

If their paperwork is as it should be you will probably get nowhere, but if the compo firm has said they'll take up your case on a no win no fee basis, the chances are you might have a decent case.

HTH

[russ_e]

thanks percy, it was a definate mis-sale - as i dont even think i was 18 at the time. the manager from the footy team i played for sold them to all the young kids that were playing for the team!!

[Mrs Trackside]

russ_e said:

thanks percy, it was a definate mis-sale - as i dont even think i was 18 at the time. the manager from the footy team i played for sold them to all the young kids that were playing for the team!!

I was 19 when I contracted out of SERPS. I wasn't advised to take out another pension!