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Opt Outs

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Opt Out or Leave Company Pensions

An opt – out is where you could have been a member of an occupational pension, particularly a “defined benefit” or “final salary” scheme and you were sold a personal pension instead. Your personal pension would have not had the benefit of guarantees and/or the employers’ contribution. Such claims can be substantial.

How to Identify if you were mis-advised to Opt Out and seek compensation:

  • If you were a member of a company pension, and were advised to stop it and start a personal pension, then you most likely have a claim.
  • If you moved jobs and were advised not to join the company scheme, then as a non-joiner, you most likely have a claim.
  • Government employee? – including NHS, the police, teachers, local government employees and firms who ran final salary schemes such as Lloyds bank, M&S, Post Office etc at the time.

Why Use Us?

Specialised Knowledge Our team has extensive experience in handling financial mis-selling cases, providing informed guidance tailored to your situation.

Fair Fees: Our fees are fair and in line with FCA rules. There is nothing to pay unless your claim is successful. View our fees here >

Comprehensive Representation: We offer full representation throughout your claim process, from initial consultation to resolution, providing peace of mind and clarity every step of the way.

Transparent and Supportive: We believe in transparency and provide personalised support, ensuring you understand your options and feel supported throughout your claim.

Expert Service: We’re proud to have recovered millions for pension mis-selling clients. Let us help you with your claim. Read our testimonials >

What Our Clients Say

We have hundreds of happy clients, read their reviews of our service

Successful Claim – Dr K – Apr 23

“Lorraine and the team at X-Claims are highly professional and communication was excellent at all stages. They are highly experienced experts in their field and give sensible and honest advice regarding the prospects of a claim. I would recommend them to anyone concerned about historical pension mis-selling (in my case of FSAVCs).”

Successful Claim – Mr M – Teacher – Apr 22

“I cannot speak highly enough regarding the friendly and professional way in which my FSAVC claim was handled by Lorraine and her team. They handled everything for me and my substantial compensation was a delightful surprise. I will be strongly recommending X-Claims to my colleagues and friends.”

Successful Claim – Dr R – Jan 23

“Lorraine Williams and her team have proven to be tenacious and patient in making representations to Sanlam and Sun Life Financial of Canada, which has resulted in over £60K in compensation being recovered.

I have recommended X-Claims to a number of colleagues, who are of a similar generation to me, in the 1980s – 1990’s who were heavily pressured and oversold into purchasing Free Standing Additional Voluntary Contributions (FSAVCs) as a way of maximising our pension pot at the start of our NHS Careers.

I thoroughly recommend X-Claims as a relatively stress free way to recoup money that was paid as commission to ‘Financial Advisors’ pedalling their financial products inappropriately to Junior Doctors on NHS Final Salary Pension Schemes.”

Successful Claim – Dr D – Dec 21

“Since being introduced to X-Claims, I have found their service to be nothing short of fantastic ! They have been extremely clear in what is needed, and extremely patient also. My thanks to Sophie and Lorraine for their incredibly hard work in achieving a very positive result for me, and for keeping me updated throughout the whole process. I would wholeheartedly recommend them to colleagues in a similar position, as their persistence in pursuing my case reflects their commitment to their clients.”

You do not need to use a claims management company to make a claim. You can do this yourself for free, and if your claim is unsuccessful you can pursue it yourself with the Financial Ombudsman Service. If your product provider or your financial advisor is no longer in business, you may be able to use the Financial Services Compensation Scheme (subject to their Rules).
X-Claims Limited is authorised and regulated by the Financial Conduct Authority – FRN: 829746

Other Types Of Claim

FSAVC Compensation

FSAVC(s) pensions have been mis-sold to thousands of people. If you have an FSAVC it is worth checking to see if you have been mis-sold.

SIPP Pension Compensation

SIPP mis-selling occurs when financial advisers convince pension holders to invest their money into a SIPP scheme that promises higher returns on very risky, (and often unregulated) investments.

Pension Opt Out

An opt-out is where you could have been a member of an occupational pension, particularly a “defined benefit” or “final salary” scheme and you were told to ‘Opt Out’ and purchase a personal pension instead.

Investments & Bonds

Investment misselling occurs when you have received deliberate or misleading advice, where the investment was misrepresented or unsuitable.

Mortgages

Mortgage mis-selling occurs when it is improperly sold to a borrower. Mortgages were only regulated from contracts which were entered into on or after 31st October 2004.  

Pension Transfers

You may have been persuaded to transfer out of your original occupational pension scheme into a personal one. Any transfer out of an occupational scheme could be a mis-sale.

Personal / Stakeholder Pension

These types of pensions may have been unsuitable for you if you had the option to purchase added years or contribute to your In-House AVC, and especially if you had no private earnings.

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