SIPP mis selling is an issue which has affected millions of UK residents with private pensions and other sources of funding.

Self invested personal pensions (SIPPs) are one of the most commonly mis sold products in the pensions and investments sector, with 100,000s of people potentially miss sold a variety of investment products including but not limited to bio fuels, land, property development, greener fuels, palm oil production, timeshare investments and other types of SIPP options.

Mis sold SIPPs are particularly prevalent in the south of England however they have been mis sold en masse all around the United Kingdom.

There are a range of unscrupulous companies which miss sell pension investments, one of the more famous of which is ethical forestry, a SIPP known to be commonly miss sold alongside many others, with miss sold investments 

Mis Sold SIPP claims are on the increase in the United Kingdom, with many different firms offering no win no fee claims management for the general public, with millions in compensation already paid out to the British public.

In most cases for a mis sold self invested personal pension it is possible to claim significant compensation, many of these claims reach in excess of £50,000 in payouts to the victim, and often the compensation comes from what is known as the FSCS (Financial services compensation scheme) as many investments of pensions are protected by that particular scheme.

 Storepod investments is another example of a miss sold SIPP, this is an investment product where people invest in storage pods and was sold to the public on a mass scale from call centre operators.

Another cause for compensation claims is unregulated or bad advice from IFAs (independent financial advisers) who have given advice which has led to a bad investment, which may be a cause for a claim.

 

How Much Compensation Can You Expect From A SIPP Claim?

Typically SIPPs claims can payout anywhere between £20,000-£85,000 the final sum can be much more and it can also be less, it really depends on the extent to which you were mis sold financially, the larger the financial loss and risk, the more the compensation will be likely to be.

Why Don’t More People Claim For Mis Sold SiPPs?

There is a general lack of awareness amongst the British public which (as a result of which) not everyone who could make a claim has or is making a claim.

However as awareness spreads there is aa hope that more of the general public will become more willing to take action and make a claim for what is due.

It would be foolish for the public to ignore mis sold SIPPs as there is so much compensation to be paid out and if the original firm can’t be litigated against the FSCS (financial services compensation scheme can provide compensation up to a maximum of £86,000.