But, given the complexities of pensions and the broader pension mis-selling scandal, you may still feel confused. If so, we recommend you read the statements below.
1. You were advised to transfer
You were actively recommended to transfer away from your employer's scheme even though you were planning to stay in the same job and were entitled to continue paying into it.
2. You were changing jobs
If you were moving to a different employer which didn't offer an occupational pension scheme and you still wished to continue saving for your retirement, there would have been little choice but to start a personal pension. However, if you were also advised to transfer the money from your former employer's scheme into a personal pension you may have received bad advice and been a victim of pension mis-selling. Although you cannot continue paying into the scheme of a former employer, moving the money already built up meant losing the additional benefits you were still entitled to receive.
3. You weren't given information about how the new plan would perform or work compared to your occupational pension
Your adviser did not compare the projections of the personal pension with the occupational one you were already on. They also neglected to explain how transferring out of your occupational scheme could affect any benefits you received from that scheme.
4. You were advised against joining your occupational scheme
If an advisor sold you a personal pension, but at the time you were actually eligible to join an employer's scheme, then you may have been mis-sold a Pension Transfer. Employer's schemes are almost always more beneficial, so if one was available then it may have been a much better option.
So what does all this mean to you?
Having read the statements above, you may now think that you were given poor advice about Pension Transfers. The fact is, if you were persuaded to leave an occupational scheme and take out a personal pension, you may well have lost out - something that could hit you hard when it comes to retirement.
We're proud to take on claims on behalf of people like you - and work for the outcome and peace of mind you deserve.
What can you do to seek compensation?
There are two main choices open to you. You can claim on your own, or use an expert like us. Now you may understandably want to know a little more about EMCAS - and why 700,000 people have trusted EMCAS with their financial claims.
If, however, you're ready for us to pursue your Pension Transfer claim, we'd be delighted to help. If you've been mis-advised about a Pensions Transfer, you deserve financial justice.
Request a call back from one of our friendly, down-to-earth advisers by clicking here. We'll call you back at a time convenient to you - and get the process started.