Have you been MIS-SOLD
a pension ANNUITY?

If you weren’t made fully aware of your options you could be eligible for 1000’s in compensation

Free Advice

This section will give you an overview of the problem with annuity and what may have happened during this sale. Read More

Free Letter Templates

This section will give you access to template letters that you can use to write to your provider regarding the mis-selling of your annuity. Download Templates

Claims Management

If you would like to utilise our services and make a complaint regarding the mis-selling of your annuity, click the link and fill in the details of your complaint. Read More

Want a Solicitor?

If you would like to take this on with a solicitor, here is what you will need to take to them for them to handle your claim. Read More

Latest News

Could the mis-selling by insurers of annuities result in compensation on the scale of payment protection insurance mis-selling, with savers in line for payouts worth billions? http://www.telegraph.co.uk/finance/personalfinance/pensions/11286965/Annuity-mis-selling-scandal-could-it-be-as-big-as-PPI.html Read More

What We Do

This website is designed to inform those that may have an issue with the way they were sold an annuity. This service offers both online advice as well as free template letters. For those that would like to take advantage of our services, we can also operate a claims management service.
You may have been mis-sold if:
  • Your pension provider didn’t tell you about the open market option
  • You weren’t asked any questions about your medical history or lifestyle
  • There was insufficient discussions regarding the annuity when you die
  • The paperwork leading up to retirement was not sufficient
  • You were poorly advised by the firm
It is very difficult to assess how much you would have been due had you not been mis-sold your annuity. Everybody is different and will have retired with a differing pension pot. Annuity rates are also changing, so depending on when you retired and any guaranteed rates you may have been offered, will all change the amount of money you will have been due. On average, we will be talking in the thousands of pounds for a refund and an increased pension going forward for successful claims.
You will first have to win your annuity mis-selling case. We do not believe the pension providers will settle claims easily, so cases may end sitting with the Financial Ombudsman Service, which could take several months before a judgment is handed down. Remember, there is no guarantees that your claim will be successful.
When you retired, if you shopped around or used an independent financial adviser, you would have typically got a better deal with regards to your personal circumstances. If you took the annuity offered through standard sales calls and literature, there is a chance that you may have been sold the wrong type of annuity. People with health issues often qualify for 20% to 60% extra income from an enhanced annuity. With the Financial Conduct Authority finding that many people did not switch annuity provider, then 90% of these people failed to get the best deal for their circumstances. Many people will not have received an enhanced annuity even though they had raised cholesterol, high blood pressure and took regular medication. They may have smoked or had other health issues that would have effected their annual income.
For the very first time, pension companies have been warned by Government Officials that they were and are responsible for people buying the “wrong” annuities. In many cases that were reviewed, pension companies were “not explaining to customers how to shop around” The FCA said the majority of insurers broke the rules or failed in their duty of care to customers when they sold annuities.
The Financial Services regulator is forcing these firms to review past sales of annuities going back to 2008. However, only a certain sample will be analysed. If this shows evidence of a “more widespread problem” the FCA will likely take some form of regulatory action. This may include forcing firms to write to affected customers and could force business to pay compensation. Customers are likely to be invited to complain by the way of a cleverly worded letter explaining their ‘may be a problem’ with your annuity sale. You are still free to make a complaint before this happens as this could take many years.
Yes you can. If you believe you should have qualified for a different annuity because you were in poor health when you retired, you can your pension company to investigate. Most people affected will be in their sixties and have bought annuities over the past few years. You will need to prove mis-selling by showing that you were not asked about your health or were not made aware of your right to shop around for the best deals.