Good to know: You do not need to use a claims management company to make your complaint to your pension provider or intermediary. If your complaint is not successful you can refer it to the Financial Ombudsman Service or the Pension Ombudsman yourself for free if the firm is still trading. For eligible failed firms, you can refer a claim to the Financial Services Compensation Scheme for free.
Elysian Fuels was a collection of companies that mis-sold SIPP pension funds to their British clients. If you were convinced to exchange your retirement savings from an established scheme to an unregulated SIPP that contained Elysian Fuels, you might have been mis-sold Sipp products.
There are currently 77 different companies registered with Companies House under the name Elysian Fuels. Some are private limited companies, and others are limited liability partnerships. They were located at one of three addresses: 30 Finsbury Square, London, EC2P 2YU; 27-28 Eastcastle Street, London, W1W 8DH; and 10 Old Burlington Street, London, W1S 3AG.
Did your financial advisor fail to accurately assess your financial situation and recommend you invest in Elysian Fuels? If so, you could be entitled to mis-sold Sipp compensation. With the help of our claims experts, you could recoup some or all of the money you lost.
In 2013, the first Elysian Fuels company was launched as a part of a Grimsby Bioethanol plant. This was a large endeavor with more than £200 million of funding, 90% of which came from mis-sold Sipp pension funds. Elysian Fuels was touted as a ‘green investment,’ attracting people interested in ethical trading. Football manager Rafael Benitez and other professional footballers got involved, and a number of high-profile bankers.
Things were going well until the price of oil tanked, and the Channel Island Stock Exchange removed Elysian from their listings. Investors lost their retirement savings, and those who had been mis-sold Sipp products were left with no recourse.
If you were mis-sold Sipp pension investments in Elysian Fuels without being made aware of the risks, you could be eligible for mis-sold Sipp compensation. Your advisor should have thoroughly analyzed your income, investment holdings, and debt before recommending an unregulated Sipp.
If you can answer ‘yes’ to any of these questions, you could make a successful mis-sold Sipp claim. Our expert claims team ise happy to help you with your questions and the entire claims process. Apply online today for an information pack to learn more.
If a financial advisor advised you to invest in an unregulated investment such as Elysian Fuels, it is still possible to claim compensation. Where the advisor is still operating, a claim can be pursued against the financial advisor via the Financial Ombudsman Service (FOS).
If an advisor is no longer operating, the Financial Services Compensation Scheme (FSCS) pays compensation for valid mis-selling claims against any financial advisor who has been declared in default by them.
If your pension included investment in Elysian Fuels, you could be entitled to compensation.
Apply NowIn this article, Allegiant’s Pensions & Investments Manager, Andy Ramsay, explores the fundamental differences between the Court and Ombudsman routes for resolving pension & investment claims. The article highlights key differences in:-
Andy further explores outdated 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 ReadYou 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:-
This article will be of particular interest to anyone with a potential compensation claim against a financial service provider that has collapsed.
Click to ReadThe 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 ReadPre 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.
As of the 1st March 2022 we have implemented a new fee structure which we have explained below. If you signed your contract with us prior to the 1st March 2022, please refer to your signed claims pack for our previous fee terms.
Our fees are owed upon a successful claim and will depend on the Gross Compensation you receive. “Gross Compensation” means the amount awarded to you whether this is paid directly to you or paid into an investment or pension, and prior to any deduction of any income tax due to HMRC on your award. Please refer to the definition of “Gross Compensation” and Section 5 of our Terms of Engagement for further information including a table showing how our fees work in different scenarios.
If successful, your fee will be calculated based on which band your redress falls into and will be charged by whichever is the lowest of:
The below table outlines the redress bands, the maximum percentage rate of charge and the maximum total charge is for each band.
Band | Redress | % Charge (with VAT) | Maximum charge (with VAT) (£) | Maximum charge (without VAT) |(£) |
1 | 1 – 1499 | 36% | 504 | 420 |
2 | 1,500 – 9,999 | 33.6% | 3000 | 2500 |
3 | 10,000 – 24,999 | 30% | 6000 | 5000 |
4 | 25,000 – 49,999 | 24% | 9000 | 7500 |
5 | 50,000+ | 18% | 12,000 | 10,000 |
Examples of how this would work in practice:
Band | Lower example | Higher example |
1 | You receive £100 in redress; our fee would be £36. | You receive £1499 in redress; our fee would be £504. |
2 | You receive £1,600 in redress; our fee would be £537.60. | You receive £9,999 in redress; our fee would be £3,000. |
3 | You receive £12,000 in redress; our fee would be £3,600. | You receive £24,999 in redress; our fee would be £6,000. |
4 | You receive £30,350 in redress; our fee would be £7,284. | You receive £49,999 in redress; our fee would be £9,000. |
5 | You receive £55,000 in redress; our fee would be £9,900. | You receive £100,000 in redress; our fee would be £12,000. |
Please note, the above fee examples are for illustration purposes only. They are not an estimate of the likely outcome or fee you will need to pay. Each claim depends on its own merits.
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 protected]; (c) by telephone: 0345 544 1563; or (d) online at https://allegiant.co.uk/compliance/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.
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.
Good to know: You do not need to use a claims management company to make your complaint to your pension provider or intermediary. If your complaint is not successful you can refer it to the Financial Ombudsman Service or the Pension Ombudsman yourself for free if the firm is still trading. For eligible failed firms, you can refer a claim to the Financial Services Compensation Scheme for free.