BAE Systems Workplace Salary Pension Claim
Did you ever have a Barclays pension from British Aerospace? Did your adviser suggest that you should switch your pension to a fixed pension? If so, you may have been missold a DB transfer. Due to the widescale misselling of pension transfers, there is a significant risk you did not receive the correct advice. As a result, you may be eligible for Final Salary Transfer Compensation.
The Financial Conduct Authority (FCA) has recently stated that many independent financial advisers provided BAE Systems pension holders with negligent advice. These advisers failed to consider the suitability of the transfer, and mis-sold salary swap products to BAE workers by transferring them to inferior or risker schemes. This negligent advice caused BAE pension holders to lose their valuable retirement funds.
Even worse, some independent financial advisers were only thinking of their own best interests. They worked on a “contingent fee” basis. That means that they only got paid if they switched clients to fixed pension schemes. S0 some advisors mis-sold salary swap products and suggested that BAE workers should trade in final salary pension for a ‘Cash Equivalent Transfer Value’ (CETV). However, it is only in extremely rare circumstances that this swap would be beneficial. Indeed, such swaps are actually very risky – in almost all cases, you should avoid DB transfers.
Do you qualify for compensation for your BAE Systems Pension?
If your adviser suggested that you trade in your Barclays BAE pension for any kind of fixed pension, you may be entitled to make a Final Salary Transfer Claim and receive Final Salary Transfer Compensation to recoup some or all of your lost income.
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Insights from Our Pensions Team
Expert Insight: The Importance of Choosing the Right Pathway for Your Claim: CMCs and Law Firms Compared.
In this article, Allegiant’s Pensions & Investments Manager, Andy Ramsay, explores the fundamental differences between between the Court and Ombudsman routes for resolving pension & investment claims. The article highlights key differences in:-
- costs consequences and funding arrangements
- the differing basis of assessment that a Court will deploy when compared to an Ombudsman
- the potential need for claimants to attend a hearing in Court
Andy further explores out-dated preconceptions about Claims Management Companies. This short summary is essential reading for anyone planning on making a pension or investment claim with the assistance of a CMC or law firm.Click to Read
Learn With Allegiant: The Financial Services Compensation Scheme (FSCS) In A Nutshell
You may have heard of the Financial Services Compensation Scheme (FSCS), but do you fully understand its vital role within the UK’s financial services sector? In this short piece, we look at:-
- The type of claims FSCS covers (and those it doesn’t).
- How and when it can help
- The FSCS claims process
This article will be of particular interest to anyone with a potential compensation claim against a financial service provider that has collapsed.Click to Read
Learn With Allegiant: What is a SIPP?
The Financial Conduct Authority (FCA) has identified ‘serious and ongoing failings’ by both Individual Financial Advisers (IFAs) and Self-Invested Personal Pension Providers. Typically, mis-selling is related to the “wrong” type of investor being given poor or misleading advice as to what investments were relatively safe and right for them. In this summary, we look at What a SIPP is, and how they have been mis-sold, together with the FCA’s review into sector malpractice.Click to Read
Our Mis-sold Pensions Claim Procedure
Pre complaint investigation and analysis. No paperwork? Don't Worry! We could still help.
Once we've assessed claim prospects, we make a pension complaint to the Ombudsman or FSCS, where appropriate
Pension complaint response received. We'll carefully analyse the response and advise you on how to proceed.
If appropriate resolution cannot be reached with a live firm, and we disagree with their stance, we will refer the claim to Ombudsman on your instruction.
Why Pay More? How Our Fees Compare.
Allegiant always aligns great value with exceptional service. This winning formula has seen us emerge as one of the UK’s pre-eminent Claims Management Companies in recent years. See why Allegiant is a great choice below. *All information correct as at 28 August 2021.
Our Fees - What You Need To Know
Worked Fee Example
How our fees work in practice:
• Compensation is £1,000, the fee is £150 plus VAT £30. This means the amount payable to us is £180 leaving you with the benefit of £820.
• Compensation is £3,000, the fee is £450 plus VAT £90. This means the amount payable to us is £540 leaving you with the benefit of £2,460.
• Compensation is £10,000, the fee is £1,500 plus VAT £300. This means that the amount payable to us is £1,800 leaving you with the benefit of £8,200.
NB. It is possible that our fee may become payable before you have access to your pension or investment which may result in you having to pay our fee from your own funds.
Cancellation Rights (Pension Claims)
You can cancel for free at any time within 14-days without giving any reason and without incurring any liability. You can communicate your cancellation by telephone, post, email or online.
You can cancel this agreement at any time after the 14-day cancellation period. However, if a complaint submitted by us is successful, the Success Fee will apply in the usual way.
You can cancel by post: Allegiant Finance Services Limited, Freepost RTYU–XUTZ–YKJC, 400 Chadwick House, Warrington Road, Birchwood Park, Warrington, WA3 6AE; (b) by email: firstname.lastname@example.org; (c) by telephone: 0345 544 1563; or (d) online at https://allegiant.co.uk/legal/cancellation.
Looking for Claim Representation? Why Allegiant is a Great Choice for Pension Claims Assistance
Our small, dedicated pensions team provide a personal touch
We’ll treat your claim as strictly confidential. Your personal information is safe with us.
We’ve serviced over 100,000 clients across all service lines since our inception in 2010.
Our fees compare favourably to competitors. We actively encourage you to shop around.
No Paperwork? Don't Worry!
We could still help if you don’t have all your paperwork or details. Our team are experienced in helping locate paperwork where possible.
Our online application system and claim audit surveys enable us to offer an efficient and convenient claims journey.