The Self-Invested Personal Pension (SIPP) is a personal pension scheme that acts as a “wrapper” and allows investors have the freedom to use a wider range of investments and products to grow their pension fund. It may seem like a good idea, but what happens when you need to file a SIPP claim?
You might be going through an emotional time, especially when you found out your financial adviser or someone has put your pension at risk, profited from it, which means you could have big losses. However, some people are held back to file a claim due to certain myths that go around the internet.
In this post, we will debunk these myths to help you get the compensation you deserve:
It Will Cost You A Lot of Money
Fighting for a SIPP claim will not necessarily cost you a lot of money. If you know what you’re doing, you can even have it for free. This is because there’s help available out there to make your life a lot easier. You can cut through the jargon, paperwork, and phone calls if you seek the right help to help you with your claims.
It’s Your Fault
Most of the time, this is not true. There are many ways a salesperson can charm their way into selling you SIPP pensions and investments. Most of them are overly promotional and are really good at selling, and if you’re not careful enough, you could fall a victim to a deal that seems too good to be true! Even though you were the one who signs it, if you think about it, it’s actually the advice that led you to it.
There’s no reason for you to be overly critical of yourself. Instead, what you should do is fight back.
You Can’t Make a Claim Because Your Financial Adviser is Out of Business
Suppose you can provide a case for negligence on the part of your regulated financial adviser before they went out of business. In that case, the case will be taken to the Financial Services Compensation Scheme (FCSS) on your behalf. The FCSS is there when everything fails and can pay you for negligent financial advice that led to a mis-sold SIPP.
It Won’t Be Successful When You Don’t Know the Jargon
Indeed, jargon can be overwhelming, intimidating, and confusing. However, if you let it hold you back from getting what you deserve, then you will get nothing. As mentioned above, help is available to you. Professionals who specialise in SIPP claims like here at Consumer Reclaim can help you cut through the jargon and get to business.
When you find the right help, you will find the process to be more accessible as you will be guided every step of the way. That’s why don’t hesitate to seek help because you deserve the right compensation for a mis-sold SIPP.
Fight Back & Get Back on Track
Knowing these common myths when filing a SIPP claim is important. There are a lot of people who get held back by these myths. As a result, they don’t get what they deserve. Use your energy to fight back and find a professional to help you with your SIPP claims today.
Consumer Reclaim can help you with mis sold claims in the UK. We can help you through the process. Get your free SIPP claim assessment here with us!