Universities Superannuation Scheme Workplace Salary Pension Claim
If you worked for a university until around 1992, you were likely offered membership in the Universities Superannuation Scheme. This is a desirable and valuable retirement fund that provides members with a lot of benefits. New staff members are offered a newer pension scheme, but did you know that older staff and retirees are now enrolled in the UK’s second-largest private pension scheme? The Universities Superannuation Scheme now manages more than £50 billion for its members.
The Universities Superannuation Scheme is a valuable pension plan, and it is rare for a salary swap to benefit you. Shockingly, some independent financial advisers are now under investigation for providing misleading information to their clients. The Financial Conduct Authority (FCA) has raised the alarm bell over financial advisers providing clients with negligent advice. Did this happen to you?
If you were the victim of a missold DB transfer, you now have legal recourse. You could be eligible to make a final salary transfer claim. If successful, you could benefit from final salary transfer compensation – and we can help.
What is a Universities Superannuation Pension Transfer?
The Universities Superannuation Scheme is a final salary pension, which is a type of defined benefit pension. It offers you a regular income for the rest of your life and tax relief on contributions. This pension scheme offers much-needed financial security during your golden years. So why would someone transfer away from such a reliable pension?
Simply put, independent financial advisers tricked or misled them into missold salary swap products. They encourage their clients to trade in their final salary pensions for a ‘Cash Equivalent Transfer Value’ (CETV). Advisers take a hefty commission off the top of that CETV and leave people like you to invest into a fixed pension.
Fixed pensions are risky, finite, and associated with high costs. They’re tied to the market, so if the stock market crashes you could lose everything in an instant. Worst of all, when the pension pot is empty, the money is gone. You could be left destitute during your retirement years when you need stability the most.
Do you qualify for Final Salary Transfer Compensation for your Universities Superannuation Pension?
It is exceedingly rare for a swap away from the Universities Superannuation Scheme to benefit you. Yet thousands of pension holders receive flawed and negligent advice to transfer their pensions to inferior schemes so that their advisers can earn commissions. This negligent advice could cost you more than 50% of your future retirement payments – but you have recourse.
Thankfully, you can now make a final salary transfer claim, and Allegiant can help. If successful, you’ll receive the final salary transfer compensation you deserve.
To have your prospects assessed by our specialist team, simply fill in our online form.
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