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Vauxhall Mis Sold Pension Claims Guide – How To Claim Compensation and Calculate Amount Payouts – 2019 Update

If you feel that you have been mis-sold a pension, there could be a chance that you could be able to make a claim for compensation. In this guide, we are going to focus on individuals who want to make a claim if they have been mis sold Vauxhall Motors Limited pension specifically. When making a mis-sold Vauxhall Motors pension claim, it is important to recognise that you are not going to be making the claim against Vauxhall. The claim will be against the financial advisor who gave you incorrect information when it came to you investing or transferring your Vauxhall pension.

You may now be one of Vauxhall Motors retirees, who invested their Vauxhaull pension after leaving the company on the advice of a financial advisor. In this guide, we will reveal everything you need to know about making a mis-sold Vauxhall pension claim. Here at Legal Expert, we have many years of experience in the industry, and our team of financial mis-selling solicitors may be able to help you to secure mis-sold Vauxhall Motors pension compensation if you are eligible for it from the financial advisor who gave you incorrect or bad advice. You can call our team today on 0800 073 8804 for more details if you are interested or you would like to discuss the specifics regarding your mis sold pension transfer claim. You can also find the rest of our contact information at the end of the guide.

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A Guide To Making A Claim For A Mis-Sold Vauxhall Pension

Vauxhall mis-sold pension claims guideIn this guide, we have put together all of the information you need if you are thinking about making a mis sold Vauxhall Motors Limited pension compensation claim. The most recent statistics indicate that Vauxhall employs around 3,000 people in the UK. Of these people, around 900 staff work at the Luton plant alone. In this guide, we will talk you through how to go about making this sort of mis-sold pension claim. We will explain the steps that you might want to take when doing so, as well as giving you an insight into the sort of service that we provide. Aside from this, we will take a look at the different types of claims you could make for mis-sold Vauxhall Motors Limited pension plans. This includes mis-selling examples ranging from Mis-sold SIPPs to Mis-sold SERPs. If you still have any queries by the time you finish reading this guide, please do not hesitate to get in touch. You will find all of the contact information you need at the end.

What Is A Vauxhall Workplace Pension And Who Are Entitled To Them?

In the UK, millions of workers are enrolled in a workplace pension automatically by their employer. This means you may not have to do anything to start your pension. Your employer pays into the scheme for your future along with yourself, so you could have peace of mind that your pension is building up nicely. You would need to enroll in a Vauxhall workplace pension scheme if the following applies to you…

  • You are not already enrolled in a workplace pension scheme
  • You typically work in the UK
  • You earn over £10,000 per annum
  • You are aged between 22-years-old and the state pension age

When Could A Pension Product Be Considered Mis-Sold?

There are a lot of different circumstances that could result in people making a mis-sold Vauxhall Motors pension claim. This is because a pension could be mis-sold in many different ways. Of course, the most obvious example is when you are given advice that is of a poor standard and this affects you financially. However, you may have also been mis-sold a pension if you were not given all of the correct information and so you did not have everything available to you in order to make the best possible decision. Aside from this, if your mental health was not considered at the time of transferring your Vauhaull pension out of the company scheme, you may have also been mis-sold a pension product and, therefore, you could claim mis-sold Vauxhall Motors pension compensation.

Is An Annuity The Same As A Pension And Could I Claim For Mis-Selling?

It is not only pensions that have been mis-sold. There are a lot of people that have made mis-sold Vauxhall Motors pension compensation claims because they have been the victim of an annuity that has been mis-sold to them. This is a type of insurance product that you will purchase with your pension pot. You are able to draw 25 per cent out of the pension pot tax-free. The remaining 75 per cent is used to give you an income for the rest of your life or for a set period of time. This part is taxed.

Was I Mis-Sold A Pension Annuity?

You may feel that you have been mis-sold an annuity. Being mis-sold an annuity works in very much the same way as being mis-sold a pension does. You may have been given poor quality advice or you may have been sold a product without your health or lifestyle habits being considered. These are the sorts of things that could result in a successful claim so please do not hesitate to give us a call for more details.

What Is A Self Invested Personal Pension And Could It Have Been Mis-Sold?

SIPPS are self-invested personal pensions. They enable people to invest in a huge different range of things. Because of this, they could be high risk. Therefore, when a SIPP is taken out, it usually means that a lot of non-standard assets are going to be invested in. If you have a high-risk investment portfolio and this is something you are happy with, there may be nothing wrong with choosing a SIPP. However, there could have been a lot of people that have gone for this type of pension because they have been given poor advice and so they may not really know what they were letting themselves in for. If this has happened to you, you might want to give us a call today to find out more details about the potential of making a claim.

Have You Lost Out Due To Poor Pensions Transfer Advice?

Aside from the examples that have already been touched upon, you may also be able to make a mis-sold Vauxhall Motors pension claim if you have received poor advice from an financial advisor that has resulted in you transferring your pension which has affected you financially. If you were part of the Vauxhall pension scheme and you were advised to move to a personal pension by an advisor, and this has seen you lose out financially, there could well be a chance you may be able to make a claim for mis sold Vauxhall Motors Limited pension compensation.

How To Check If You Were Mis-Sold Your Pension Product

One thing that a lot of people might struggle with when it comes to making a mis-sold Vauxhall Motors pension claim is determining whether they were actually mis-sold a pension product? It could be hard to figure out whether this has happened to you. You may be thinking that perhaps your advisor did the best that he or she could do at the time? This may, of course, be the case, but there are a number of different indicators of whether you were mis sold a pension product to take into consideration. Are you in a worse financial position than you would have been if you had not taken the advice of the advisor? Were you going through emotional difficulties at the time, which your pension or financial advisor did not take into account? Were you in possession of all of the facts, and did you have everything explained to you fully? If not, you might want to call our team for advice on what to do next.

Mis-Sold Pension Product Checklist

You may be unsure as to whether you have been the victim of a mis-sold pension or not. We have put together a checklist below so that you could get a better understanding of this. It could be likely that your pension has been mis-sold to you if any of the following apply…

  • You transferred your pension to an SIPP without knowing all the risks involved.
  • The financial or pension advisor you worked with did not ask about any mental health or physical health conditions you were experiencing at the time.
  • You have made an investment in assets that are considered non-standard. This could include storage pods, overseas property, ethical forestry, green oil, carbon credits, car park schemes, and other assets like this.
  • Your financial or pension advisor did not talk about your lifestyle habits with you at the time. They did not ask about things like your drinking and smoking habits.
  • You were in the Vauxhall company pension scheme. However, your financial or pension advisor advised you to move into a different scheme despite the fact that you would have received better results if you stayed in the workplace scheme.
  • When you transferred out of the company pension, you felt under pressure to go for that specific deal. You did not feel like you are given the information or the opportunity to look for a better deal.

What Happens To My Pension Or Mis-Sold Pension Claim If I Die?

What happens to my pension if I die? You may be thinking about making a mis-sold Vauxhall pension claim if your loved one has passed away and you are currently taking an income from his or her pension and you feel that it was sold on bad advice. You may simply be worried that your mis-sold Vauxhall Motors pension claim will be forgotten about if you pass away. This is not the case. When someone passes away, their pension is typically passed onto someone else, usually their partner. This person could be able to, therefore, begin a claim on the basis that they will miss out on income because of the mis-selling of the product. For more information about this type of mis-sold pension claim, please do not hesitate to give us a call for more information.

Independent Financial Advisors Providing Advice About Pension Products

This is not an exhaustive list; it is merely a collection of examples.

Pension IFAs

  • MY IFA Friend
  • Active Wealth (UK)
  • Blue Infinitas
  • Alderley Asset Management
  • Douglas Baillie Limited
  • 1 Stop Financial Services
  • Carter Henderson Associates Limited
  • Consumer Wealth
  • Foreman Financial Services
  • Grainger & Co Financial Services
  • C3 Financial Services Limited formerly Foyle & Lagan Limited

Pension Schemes

  • Fast Pensions
  • GPC SIPP
  • Greyfriars Asset Management LLP
  • Strand Capital
  • Beaufort Securities
  • Guinness Mahon
  • The Lifetime SIPP Company

Investment Schemes

  • London Capital & Finance

Investment IFAs

  • Surge Financial
  • JNF Capital Limited

How Often May Pensions Be Mis-Sold?

If you are someone who regularly searches for my mis sold pension news online, you may probably know that the pension mis-selling scandal is big news. In fact, the amount of compensation that has been awarded for these sorts of cases has doubled in just two years. In 2016, the amount stood at £20 million. By the time we got to 2018, this reached £40 million. This could be seen as somewhat of a staggering figure, but it could potentially reach even higher than this number, as it may be the case that many people might not have claimed for their mis sold pension yet.

Mis-Sold Pension Calculator

If you are thinking about making a mis-sold Vauxhall Motors pension claim, one thing you may want to know is how much mis sold pension compensation you are going to get if your claim were to be a successful one. It is not possible to give you a 100 per cent accurate figure. This is because all claims are assessed on an individual basis, ensuring a fair amount is awarded every time. However, we could help you to get a better understanding. All you need to do is refer to the table below to see the average compensation amount for mis sold pension. If you have any further queries or you would like a more specific estimate, please do not hesitate to give us a call.

Size of annuity or pensionThe potential level of compensation
LargeCould range up to £150,000. In some cases, it is more than this.
Medium to largeRanging from £50,000 to £150,000. The exact amount depends on the circumstances.
Small to mediumRanging from £30,000 to £50,000. The exact amount depends on the circumstances.

No Win No Fee Claims For Mis-Sold Financial Products

There is no denying that you could have a lot of different options to choose from when it comes to selecting the best solicitor to work on your mis-sold Vauxhall Motors pension claim. You might well want to make sure that you choose someone who has plenty of experience and has worked on a lot of claims like this before. Aside from this, you could check to make sure that the individual has a good track record and that he or she is easy to communicate with and does not try to confuse you with complex legal jargon. Aside from this, though, one of the most important factors, we believe, when choosing a lawyer is looking for a solicitor that is happy to work to a no win no fee basis. If this is something you have never heard about before, it simply means that you are only going to need to pay for a successful legal service. If mis sold pension compensation is not awarded, you are not going to need to pay a penny to your legal team. This could give you financial peace of mind. Here at Legal Expert, all of our solicitors always work to this payment structure.

What Should I Do If I Think My Vauxhall Pension Was Mis-Sold?

When it comes to making a claim, there is no denying that your solicitor could have a very important role to play. He or she is largely going to be responsible for making sure that you get the right and fair payout. However, there are some steps that you could take to make your solicitor’s life easier and these steps could increase the chances of you securing a payout.

One of the first things you could do to help is to gather all of the information relating to your pension. This includes all statements and paperwork relating to your pension. If you have any proof that the pension in question was mis-sold to you or any proof of the negligent advice you received, you might wish to keep a hold of this as well, as it could help with your mis-sold  pension claim.

In addition to this, you may need to take the time to source the right solicitor to work on your mis-sold Vauxhall pension claim. While it may be tempting to simply download a mis sold pension letter template and try to do it yourself, this is definitely not advised by our experts. You might not get a second chance to secure mis-sold Vauxhall Motors pension compensation and without the right legal advice, you could struggle to get the best possible outcome. If you do not have the time to search for qualified and experienced solicitors to handle your mis-sold Vauxhall Motors pension claim, we have all of the experience you may need.

Talk To Our Team Today

If you are ready to make a mis-sold Vauxhall Motors pension claim for mis sold Vauxhall Motors Limited pension compensation or you have any queries about doing so, all you need to do is give us a call on 0800 073 8804. You will speak to one of our kind, friendly, and experienced team members, and they will be more than happy to answer your queries. No matter whether you have concerns about something on your pension statement or you want to know if you have been the victim of a mis sold pension SERPs, they will be more than happy to assist you in any way possible. There are plenty of other ways you could make contact with us too. You can also use the live chat feature on our website or you can enter your contact details and we will get back to you as quickly as we can. Plus, you can send us an email, and we will get back to you as quickly as possible.

Further Resources

  1. General Pension Mis Selling Advice – Getting good advice could be key in helping you to make the right decisions on whether you were mis sold a pension, and our guide aims to cover this.
  2. Were you mis sold another financial product? – PPI is another financial scandal, and it may be possible for you to reclaim monies paid out if your PPI was mis sold. You can see more information about these claims here.
  3. GOV – Pensionwise – The government’s advice on being Pensionwise explains about workplace pensions, and lays out facts about what you could do with the pension pot that you have.

By Jo Edited By Melissa.

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