PENSIONS have been hit by a series of mis-selling scandals over the past decade, and the latest concerns annuities.

Mis Sold Investments

Tens of thousands of pensioners could be in line for compensation because their pension scheme or financial adviser didn’t tell them they could shop around for the best possible annuity at retirement.

Many assumed they had to buy the annuity offered by their existing pension scheme even if it represented poor value. Shopping around, known as taking the “open-market option”, can boost your retirement income by up to 20 per cent a year.

Smokers, the obese and seriously ill could raise their income by more than 30 per cent by purchasing an annuity that pays more to people with a lower life expectancy. Buying your annuity is a once-in-a-lifetime decision and it is vital you get it right, says Bob Bullivant, chief executive officer at Annuity Direct.

“Too many people don’t realise they can take their pension pot onto the open market. Many life companies have worded their retirement letters in a way that means that only one in three people exercise this option. The answer is for this to become the default option.”

Independent providers Hargreaves Lansdown run an annuity supermarket, or contact specialists such as Annuity Direct or The Annuity Bureau through their websites. Gemma Goodman, associate director at The Annuity Bureau, says you should also ask if you qualify for enhanced rates due to illness or unhealthy lifestyle. “Once you have chosen your annuity there is no going back. It does not take long to check your options and you won’t be worse off for trying,” she says.

Mis-Sold Invetsments : Update

Mis sold Investments – your pensions and investments

Your pensions and investments are turning fund managers and marketing men in to millionaires. More than £20 billion of savings and investments are snatched from pensions, unit trusts, endowments and other products every year in charges, according to Money Mail analysis.


Mis-Sold Investments – Midlands, UK

Maple Leaf Financial have a specialist team of solicitors dedicated to dealing with mis-sold investments from, PEP’s, ISA’s, whole life policies, see list below. We are happy to review these Investment products and to claim compensation for our clients where appropriate.


Life Assurance Investment Claim backdated 27 years

Our client a Senior Nurse took out a savings plan with London Life way back in 1985 (yes 27 years ago) and initially paid in just £20 per month. Later London Life became Phoenix. She increased this during 1988 to £50 per month.

During 2003 she partly surrendered her plan, withdrawing £3,000. (This was possibly virtually all of its value at that point). The plan was kept going until it matured in May 2011 for a total value of £18,869. This is the total our client received back from the plan and therefore amounted to more than she had paid in. It had matured.


Mis-Sold a Retirement Investment : Case Study

As people head into the golden years of retirement, some discover that their carefully planned stash of retirement money turned out to be a mirage.

Such was the case for a couple about to retire. They asked an independent financial advisor how best to invest an inheritance of £62,000. The advisor suggested stashing £55,000 into investment bonds. The rest of the cash, including £21,500 in other Isas, would be funneled into shares Isa and stocks.


Tim Capper reports on Financial Mis-Selling for Maple Leaf Financial. Our aim is to ensure you get honest advice and proper guidance to ensure a suitable recommendation can be made to pursue a financial claim

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Tim Capper

Bringing you financial news and information in plain english for Maple Leaf Financial. My aim is to help readers understand these often complex financial instruments.