The Lifetime SIPP Company Ltd is a Self-Invested Personal Pension provider that mis-sold SIPP products to thousands of British clients. Do you qualify for mis-sold SIPP compensation?
Lifetime was incorporated as a private limited company on 28 December 1989. While they are technically still trading, Lifetime is in liquidation and cannot return any returns on your investments.
If you ever invested with Lifetime SIPP you might have been mis-sold SIPP pension products, which means that you could potentially recoup some of your lost savings. The Financial Services Compensation Scheme (FSCS) has made mis-sold SIPP compensation available for people like you. Keep reading to learn more.
Lifetime SIPP included many high-risk investments in their SIPP products. Independent financial advisors selling their SIPPs did not adequately inform their clients of the risks of Lifetime’s funds. Advisors mis-sold SIPP funds, and suggested that people move their retirement savings from stable, safe schemes into unregulated SIPPs.
In 2014, Lifetime got involved in the Harlequin Properties scandal, having the second-largest number of shares in the company. Harlequin Properties went into administration in March 2018.
In June 2019, the Financial Conduct Authority completed their investigation into The Lifetime SIPP Company and declared that they did not perform due diligence. As a result, the company was deemed to be in default, and the Financial Services Compensation Scheme (FSCS) will look into protected claims levied against the firm. That means that you may be able to recoup some or all of the money that you lost.
Are you entitled to mis-sold SIPP compensation from Lifetime SIPP?
Did you ever invest in a Lifetime SIPP Company SIPP? If so, you may have been mis-sold SIPP pension products, and therefore be entitled to mis-sold SIPP compensation.
Lifetime is no longer trading, but the Financial Services Compensation Scheme (FSCS) has made mis-sold SIPP compensation available for people like you who were misled by financial advisors. Do you qualify?
Our team of advisors can assess your case and help you apply for your mis-sold SIPP compensation. Apply online today for an information pack to learn more.
FSCS The Lifetime SIPP Company Claim
The Lifetime SIPP Company has been declared in default by the Financial Services Compensation Scheme. This means that the UK’s compensation scheme for failed financial services firms will pay compensation for valid mis-selling claims. Allegiant can assist you with claims to the FSCS about The Lifetime SIPP Company. Fill in our online application form to get started.
You do not need to use a claims management firm to make your claim and if your complaint is not successful you can refer it to the Financial Ombudsman Service or in the case of a failed firm, the Financial Services Compensation Scheme, for free.Apply Now
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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.
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|
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.
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We’ve serviced over 100,000 clients across all service lines since our inception in 2010.
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