Mis-Sold Pensions

What is a Self-Invested Personal Pension (SIPP)? 

A self-invested personal pension (SIPP) is a pension ‘wrapper’ that holds investments until you retire and start to draw a retirement income. It is a type of personal pension and works in a similar way to a standard personal pension. The main difference is that with a SIPP, you have more flexibility with the investments you can choose.


Disturbingly, some financial advisors are targeting customers and persuading them to transfer their pensions with the promise of guaranteed high returns. However, SIPPs can be high risk and the risks associated are sometimes not made obvious to investors; resulting in large financial losses for investors

You may be eligible to make a claim for compensation if:


  • You were wrongly advised about your options or the advice given by your financial adviser or SIPP provider was unsuitable, unreliable or negligent and has resulted in financial loss

  • You were encouraged by pressure sales to invest your pension savings into a SIPP investment that was not right for your circumstances and did not match your individual needs

  • You were advised to invest in unregulated high-risk investments that you did not know about or misunderstand

  • The potential risks and downsides of your investments were not fully and properly explained to you by your financial adviser or SIPP provider and you were not made aware of what could potentially go wrong

  • You did not have all the necessary information you needed from your financial adviser or SIPP provider to help you make a fully informed decision

  • You were unaware of additional costs and unexplained fees attached to your SIPP investments because they were not fully explained to you and that there was a lack of transparency

  • You were promised guaranteed high returns that never materialised

You are not required to use the services of a Claims Management Company to pursue your claim; as you could present your claim yourself for free to the Financial Advisory firm. If your complaint is not successful you can refer it to the Financial Ombudsman Service (FOS) or to The Financial Services Compensation Scheme (FSCS) if the Financial Advisory firm is no longer in business.

Palmira Capital Limited registered office:  Whins Lodge, Whalley Old Road, Langho, Lancashire, BB6 8DU, UK. Registered in England company number 11357812. Palmira Capital Limited is authorised and regulated by the Financial Conduct Authority (see the FCA register at www.fca.org.uk/register/ reference: 838259

Palmira Capital Limited is registered with the Information Commissioner (ICO) Registration: ZA474904