Anyone who joined the Electricity Supply Pension scheme before April 2006 was enrolled in the defined benefits section. Simply put, this means that you would enjoy a final salary pension during your retirement.
However, in recent years, the Financial Conduct Authority (FCA) has issued warnings about missold salary swap products, which are more common than ever. If a financial adviser recommended that you switch your Electricity Supply Pension to a private scheme, you are likely the victim of a missold DB transfer.
Negligent independent financial advisers failed to consider the risks and suitability of these transfers for clients like you. In some shocking cases, financial advisers purposely missold DB transfers in order to earn hefty commissions, completely disregarding the welfare of their clients.
By transferring your valuable final salary Electricity Supply pension to a private scheme, you have lost out on future earnings and jeopardized your retirement income.
If any of this sounds familiar, you may be the victim of a missold DB transfer. Our expert team can help you make a final salary transfer claim and receive the final salary transfer compensation you deserve.
Prior to April 2006, nearly all electricity supply pensions were final salary pensions. These schemes, (also known as Defined Benefit pensions) continue to payout no matter how long you live. Even better, they have very low or no fees, and they keep pace with inflation. They are stable and reliable, allowing you to maintain the lifestyle to which you are accustomed.
On the other hand, private pension schemes are far less advantageous. They are based on market rates, which means that they go up and down with the market and are subject to a high level of risk. Private pensions draw from a fixed pot, and when that money is gone, it’s gone. That means you can outlive your pension pot and end up in dire straits in your final years.Apply Now
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:-
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
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:-
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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
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.
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.
How our fees work in practice:
• Compensation is £1,000, the fee is £250 plus VAT £50. This means the amount payable to us is £300 leaving you with the benefit of £700.
• Compensation is £3,000, the fee is £750 plus VAT £150. This means the amount payable to us is £900 leaving you with the benefit of £2,100.
• Compensation is £10,000, the fee is £2,500 plus VAT £500. This means that the amount payable to us is £3,000 leaving you with the benefit of £7,000.
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.
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: email@example.com; (c) by telephone: 0345 544 1563; or (d) online at https://allegiant.co.uklegal/cancellation.
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.
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.