Do you have a Jaguar Land Rover pension? Jaguar Land Rover, formed in 2008 when the two companies merged, rewarded their employees with a final salary pension. However, unscrupulous financial advisers convinced people like you to transfer their final salary pension for inferior private schemes. Did this happen to you?
If you or someone you love was convinced to switch pension schemes away from a Jaguar Land Rover pension, you might have been missold salary swap products. You could be entitled to defined benefit transfer compensation.
The Financial Conduct Authority (FCA) recently issued a warning regarding missold DB transfer products. They have received many complaints about independent financial advisers giving negligent and erroneous advice. This misleading advice has caused many Jaguar Land Rover pension holders to lose their future retirement income
If you are the victim of a missed sold DB transfer, you might be entitled to defined pension compensation. Our expert team can help.
Jaguar Land Rover rewarded their employees with a highly desirable pension package. Rarely made available today, employees often benefited from a final salary pension plan. Final salary pensions (also known as defined benefit pensions) are highly sought-after because they payout for the rest of your life, no matter how long you live. Even better, they keep pace with the rate of inflation. When the cost of living increases, your monthly payments also increase.
Sadly, many Jaguar Land Rover employees received negligent advice to transfer their desirable final salary pension to an inferior private plan. Independent financial advisers paid on a contingent fee basis, stood to gain when they convinced their clients to make the switch. They advised pension holders to trade in their final salary pension for a Cash Equivalent Transfer Value (CETV). After taking large commissions from this lump-sum cash payment, they advised clients to invest the rest in private pensions.
But these private pension schemes are limited – when the pot runs out, it runs out, which could leave you destitute in your golden years. Since they’re tied to the market, these risky pension plans can dwindle to zero overnight. You’ll also be charged high annual fees and commissions.
Final salary pension transfers are only beneficial in very rare cases; most reputable advisers will tell you to avoid them at all costs.
If your financial adviser recommended a final salary pension transfer, you are likely the victim of a missold salary swap. Thankfully, you can now make a final salary transfer claim. If successful, you could be awarded final salary transfer compensation that will help you recoup your losses and recover from this negligent advice.
The team here at Allegiant is ready to help you make your defined benefit transfer claim. To have your prospects assessed by our specialist team, simply fill in our online form.Apply Now
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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.
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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.
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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.
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