Have you suffered unexpected financial difficulty after transferring to a pension scheme recommended by Better Retirement Group? If so, then you could be a victim of mis-selling. Many people in similar circumstances – both with Better Retirement Group and other pension advisors – have come to us with their concerns and have been awarded compensation. Make your Better Retirement Group Claim today.
Contact our specialist Investment Fraud & Mis-selling lawyers today for more information. We operate on a no-win, no-fee basis – meaning that you do not have to pay to make a claim. Payment for our services comes in the event of a successful claim, where we are paid a percentage of the compensation awarded to you.
Better Retirement Group Ltd has been accused of mis-selling by numerous claimants. Many of the claims made against the company have been recognised and upheld by the Financial Ombudsman. Better Retirement Group is accused of failing to uphold its legal duty by not giving proper guidance to those clients transferring their pensions into a private scheme. The type of pension recommended by Better Retirement Group (SIPPs) is different from the standard workplace pension in that they exchange the protections of a normal workplace pension for one that supposedly has a higher capacity for earning. However, with the higher reward comes much higher risk, so SIPPs are not suitable for everyone.
In 2023, the Financial Services Compensation Scheme (FSCS) announced the failure of Better Retirement Group (BRG). However, we can still help you to make a compensation claim, even when a financial firm has failed.
In January 2023, the FSCS announced the failure of BRG.
The fact that BRG has failed means that claims made against the business are likely to be valid, and that the company is guilty of mis-selling.
People who have been mis-sold a pension and come to us for help typically have the following in common:
SIPPs are a different type of pension scheme from the standard workplace version that many people are accustomed to. A workplace pension (also known as a Final Salary pension, or a Defined Benefit pension) builds up through small, low-risk investments, and has protections built-in via the Pension Protection Fund to prevent loss.
However, the PPF does not apply to SIPPs. This makes the scheme type fairly risky, as you could very well lose the money you’ve saved up throughout your working life.
Better Retirement Group Ltd has been advising people on their pensions for over 25 years. It has operated under many different names, including:
If you were a customer of any of these companies, you could have a pension mis-selling compensation claim.
In 2017, the British Steel Pension Scheme (BSPS) announced that it was going to be restructuring after its sponsor Tata Steel UK experienced financial difficulty. The BSPS gave members a (time-limited) choice, they could:
Alternatively, 44,000 members were given the option to transfer out of the BSPS scheme altogether. Before doing this, members were required to take financial advice from a regulated advisor if their pension was worth more than £30,000.
It was during this time that independent financial advisors contacted holders of the scheme to discuss alternate choices. One of these advisors was Better Retirement Group. In total, around 8,000 members transferred out of the BSPS and into another pension.
Better Retirement Group facilitated the transfer of many BSPS pensions into high-risk schemes, but this often resulted in heavy financial losses. Many of these transfers were made in conjunction with Fiducia Wealth Solutions. Some steelworkers who switched from the British Steel Pension Scheme report losing anything between £80,000 and £490,000.
To start a claim just complete our easy-to-fill enquiry form. We will then contact you to see if your case can be pursued. Remember, we operate on a no-win, no-fee basis. So fees will only occur as a result of your successful Better Retirement Group claim.
Last month, steelworkers were invited to a roadshow on the Financial Conduct Authority’s (FCA’s) pension redress scheme. But, for many of those affected by British Steel pension mis-selling, the invite arrived after the event was held.
Today, the Financial Services Compensation Scheme (FSCS) has announced the failure of Better Retirement Group (BRG).
If you were advised to transfer your pension from the BSPS and have subsequently found yourself worse off, you may have a claim with the Financial Services Compensation Scheme (FSCS). The FSCS exists to protect consumers when financial firms fail.
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