Mis-Sold FSAVCS Compensation
What Is A FSACVS?
FSAVCS stands for “Free Standing Additional Voluntary Contributions Schemes” (FSAVCS), FSAVCS are a great well to try and boost your pension pot, the way it works is your pension contributions are used towards investments. However, some of the financial advisors would miss-sell the retirement contributions plan.
What is the exact nature of FSAVCS?
If we review the actual nature of the FSAVC plans, then we can notice that such plans are like personal pensions. That is, one pays the contributions prior to the retirement in order to receive those contributions after retirement. Thus, such contributions become an investment for that person.
The larger the contribution is, the larger will be the pension that a person will receive after the retirement.
What are the problems related to the FSAVC?
It is pertinent to elucidate here the fact that the FSAVC can have two likely drawbacks.
One is that the FSAVC can have high charges that are charged by the relevant financial institutes for meeting their costs. The other drawback can be related to the weak performance of the investments. People who are mis-sold into a FSAVC are, in actuality, can in cases be not provided with the information related to the weak performance of the investments. Hence, they are misled.
Is there any way to reduce risk?
On the other hand, some people who are employees in the public sector tend to buy some more years of employment instead of gaining contribution to their pension. This reduces the risk that is associated with the performance of the investments in future. Hence, adding some years of employment instead of making contributions for their pensions is also considered a favourable investment by some people.
As their employment years increase, their retirement age increases, which ultimately provides them with an increased pension or gratuity after their retirement.
What are the prominent reasons for getting mis-sold FSAVCS?
It is pertinent to mention here that the pension plans apparently entail complexity with them, due to which some people may get trapped into getting a missold FSAVC. On the other hand, it is also possible that a person may get-sold FSAVC just because that person was not informed about the high costs associated with the FSAVC or was not even described where his/her contributions would be invested.
It is also possible that the person may possibly be unaware of the fact that the employer makes contributions into the AVC but not into the FSAVC. Hence, not knowing the difference between these two, i.e. AVC and FSAVC, can also lead some people to fall into the trap of getting a mis-sold FSAVC.
FSAVC Claims And Compensation
You may be one of the many people that were wrongly advised to invest into FSAVC, only to find that too many risks were taken with your investment and you have not only lost your money but that all important pension you thought you were saving and investing for.
It is no laughing matter when you lose your life savings and on top of that your pension.
If you are one of the unfortunate ones that have lost money by investing in this FSAVC, then you are eligible to make a claim because you were mis-sold this investment. There are many ways you can file your FSAVC claims, but by far the easiest and fastest way is to consult a professional organisation such as Mis-Sold Pension. This company will help you claim back what you are owed and with their online claims process, you can begin your claim today at your convenience, anytime and anywhere without even having to visit our offices in person. With a quick turn around on cases, Mis-Sold Pension can provide impartial advice and can help you get your FSAVC Compensation.
Why Should You Choose Claiming 4 U?
Claiming 4U are an experienced claims management company, specialising in claims for mis-sold pensions. We pride ourselves in doing everything we can to help our clients who have been mis-led by their financial advisors and who have lost money as a result. We work on a No Win No Fee basis, subject to t&c’s
Many financial advisers made a lot of money transferring people’s pensions to dodgy, unregulated investment schemes, often receiving huge commissions for doing so, all while their clients were losing their retirement funds. The Financial Conduct Authority, are taking strong actions against the guilty parties, and the Financial Ombudsman’s Service and Financial Services Compensation Scheme are now paying out hundreds of millions of pounds in compensation and interest to the victims of these scams. These claims can be very complicated to the lay person and it is easy to get it wrong.
We have years of experience in the Claims Management industry and we have had some large wins on recent Mis-sold Pension & mis-sold sipp cases. So why not let us do the work for you; We have a wonderful customer care team, who will keep you up to date, along with an experienced team of claims handlers and legal staff who will be responsible for securing the best outcome for you.
Look at some of these fantastic reviews from Trust Pilot!
Claiming4U helped me to claim back money I lost from my pension which I though had gone forever. The team were really helpful and I had a dedicated claim adviser. It was a huge relief when they called to tell me that they had been successful with my claim.Mr Bernard Moore - Source (Trust Pilot - 19/12/2017)
I have had a very good experience with claiming 4u. Initially I was not very trusting of the company and was looking for the catch !!. But they did everything they said they would. They succeeded in getting me compensation for miss sold shares, all I did was send them any paperwork I had and they did the rest, even for shares that I no longer had paperwork for. I took about a year but it was worth waiting for. I received a large sum of money back and it was easy.Mr Richard Smith - Source (Trust Pilot - 01/09/2017)
Claiming4u helped me to reclaim money (almost £600 from mis-sold shares) that I had no idea I was entitled to. They contacted me, explained the situation clearly and why I was entitled to a claim and then helped me every step of the way giving me a named contact I could liaise with at any point. They were great, and without them I would never have seen a penny of this claim.Mr Paul Galbraith - Source (Trust Pilot - 28/11/2017)