Claims Management Company Return My Money has recently helped a Client secure a unique double win in cases relating to a mis-sold self-invested personal pension (SIPP) and investment.
The claimant, who did not wish to be named, had transferred their Aviva personal pension, worth approximately £127,000, to The Lifetime SIPP Company in 2011. As part of the SIPP, an investment was made into Harlequin Property shortly afterwards, committing approximately £100,000 into a property development in the Dominican Republic.
Shortly after this investment was made the claimant’s SIPP was valued at zero.
After contacting Return My Money for a free review and subsequently instructing their team of pension experts, the claimant has now been awarded £170,000 across two claims.
Both The Lifetime SIPP Company and the adviser are no longer in operation, meaning both claims had to be submitted to the Financial Services Compensation Scheme (FSCS).
The FSCS found in favour of the claimant, awarding its maximum £85,000 compensation in both individual cases. While the notional value of the claimant’s Aviva pension was in excess of £250,000, the awarding of £170,000 will go a long way to ensure the claimant enjoys a comfortable retirement.
Chris Hopson, Managing Director, Return My Money, said, “I’m delighted our team has managed to settle this claim on behalf of our Client, who had written off this cash and decided to cut his losses before seeing one of our adverts.
“While both claims needed to go to the FSCS due to the failure of the two companies in question, the outcome of both cases and the sums awarded highlight the importance of pursuing claims for mis-sold pensions.
“It also serves as a timely reminder to anyone who has been the victim of a mis-sold pension that a company not being around anymore isn’t a barrier to seeking redress and getting the compensation they deserve.”
The double claim came as a welcome surprise for the claimant, who had resigned themselves to the cash being lost forever, and was delighted with the outcome.