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NHS Doctors Were Mis-sold Pensions Between 1988 & 2008


Between 1988 and 2008, many doctors were wrongly advised to take out Free Standing Additional Voluntary Contributions (FSAVC) or Personal/Stakeholder pension schemes, which significantly reduced the value of their pension fund and left many out of pocket.

FSAVC’s and Personal Pensions can be extremely expensive, and you would have had a much better return if you had made the additional payments to one of the in-house options available through your existing NHS occupational pension.

Companies such as Medical Sickness (now Wesleyan), Allied Dunbar (now Zurich), Lincoln National (now Sun Life Financial of Canada), Friends Life/Provident (now Aviva) and many others sold these products to newly qualified doctors.

X-Claims has a proven track record in successfully winning maximum compensation for their clients and work on a no win no-fee basis with no up-front fees. You can only make a claim once, so using a professionally qualified regulated firm can be invaluable.

Even if you have retired or stopped paying into the pension you may still be able to make a claim.

We have highlighted here some important points, if any apply to you, it is very likely that you have grounds for a claim:

✓ You were not advised that you could purchase added years in the NHS scheme – Were you made aware of the fact that you could have made Additional Voluntary Contributions to the NHS scheme?

✓ You were not told you could be worse off with a FSAVC instead of the NHS alternatives.

✓ You were not told the higher charges of the FSAVC were considerably more than the in-house arrangement.

✓ You were told the FSAVC was better than the NHS alternatives.

✓ Your advisor did not explore and explain the difference in risk between a private scheme and the NHS added years scheme.

✓ You were sold a Stakeholder or Personal pension but had no private earnings.

✓ Even if you had private earnings as well as NHS earnings you should have been advised to maximise added years before purchasing a Personal Pension.

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

“The service form X-Claims was excellent from the word go. Very friendly and helpful with explanations and advice at all times – an efficient service throughout. Thank you!”
Dr M Jun 2021

Doctor, Successful Claim

“I would not have attempted to make a claim without their help. Recommended by a colleague. I received substantial compensation. X-Claims were efficient and dogged in negotiating the bureaucracy. Strongly recommend them.”
Dr K – Feb 2021

Doctor, Successful Claim

“Despite what was clearly a complex case, involving mis-selling of FSAVC nearly 30 years ago, and an initial rejection of the claim by the company concerned, X-Claims refused to give up and ended up having to go via the ombudsman in order to resolve the matter. Although the whole process took over 2 years, none of the delays were with X-Claims, but all with the investment company and ombudsman. All emails were responded to promptly and all explanations and requests for information clear. So the expenditure of time on my part, in order to reach the required conclusion, was very modest. Furthermore, when it was clear that the compensation, in terms of the amount finally agreed to top up my AVC pot, would have landed me with a huge tax bill because of incurring annual allowance taxes, they negotiated a reasonable cash payout within a matter of days.”
Dr N – Nov 2020

Doctor, Successful Claim