Vauxhall Motors offered their employees a handsome pension package. Until recently, many Vauxhall employees benefited from desirable defined benefit pensions, including final salary pensions.
Did a financial adviser convince you to swap your valuable final salary pension for an inferior fixed scheme? If so, you are likely the victim of a missold salary swap. The Financial Conduct Authority (FCA) has issued warnings to Vauxhall pension holders, advising them to be wary of misleading and negligent advice from independent financial advisers.
Independent financial advisers, many of whom only received commissions on a ‘contingent fee’ basis, failed to consider their clients’ unique needs. Instead, they recommended missold DB transfer products that they knew were not a good fit, causing them to lose their valuable retirement savings. They put their own incomes above their clients’ best interests. Does this sound familiar?
If so, you are a victim of a missold salary swap – and we can help. Allegiant can help you file a defined pension claim and get the defined pension compensation you deserve.
If you worked for Vauxhall Motors, you might have been enrolled in a final salary pension. Though rarely offered today, final salary pensions are extremely desirable pensions that payout at the rate of your final salary for the rest of your life. On the other hand, fixed pensions are finite – when the money runs out, it’s gone forever.
They continue to keep up with the rate of inflation, so you’ll never be priced out of your standard of living. They don’t charge fees or come with any associated admin costs, unlike fixed private pensions. There are very few reasons why anyone would benefit from a final salary pension transfer, but that hasn’t stopped independent financial advisers from suggesting them to unsuitable clients.
Final salary pensions can be traded in for a ‘Cash Equivalent Transfer Value’ (CETV). Advisers suggested their clients use this CETV to invest in private fixed pensions, but not before helping themselves to hefty commissions. Victims of missold salary swaps are left with inferior pensions that are often worth significant less than final salary schemes. You could end up penniless in your retirement years – but now you can make a salary swap claim.
Pension transfers are unsuitable for almost all clients. Unless you have a terminal illness, you are likely the victim of a missold salary swap. You can now make a defined pension claim – if successful, you could receive defined pension compensation.
If you had a Vauxhall pension and a financial adviser suggested you transfer, you now have legal recourse and can recoup some of what you lost. Our expert Allegiant team has a lot of experience helping people like you get the compensation that you deserve.
To have your prospects assessed by our specialist team, simply fill in our online form.Apply Now
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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: firstname.lastname@example.org; (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.