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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?
Compassionate Approach: We empathise with the challenges you may have faced and may still be facing and we are committed to providing compassionate, yet professional support throughout the process.
Transparent Communication: You can rely on us for transparent and clear communication at every stage of your claim.
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.”
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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