The Amount Set Aside by FSCS For Mis-Sold SIPP`s
There is a looming inferno on miss sold Self Invested Personal Pensions (SIPPs) in the UK right now. This is a huge scandal in the financial sector. It has left a majority of the citizen with their mouth agape as they count the losses they have incurred in their pension investment.
However here if you are one of the people in loss of SIPPs, do not worry. The Financial Service Compensation Scheme (FSCS) is out to assist you. It has set aside a sizable amount of money to ensure your compensation claims are covered.
FSCS is a statutory Deposit Insurance and Compensation Scheme. They are authorized to pay compensations if a firm is technically incapacitated and not able to pay claims requested from them. FSCS is an independent body. It uses rules set by the Financial Conduct Authority (FCA).
How Much Money Has FSCS set Aside for Miss sold SIPPs
This year from June 2018, the FSCS has set aside £336 million to pay for the compensation costs. This is to run untill March 2019. This amount has been increased from the previous compensation value that was £320 million.
Therefore, it means there is a £16 million increase over the previous amount fund which ends in June 2018. The £336 million set for compensation by the FSCS has been due to the rise of the number of claimers.
FSCS had underestimated the figures before. But right now they are aware of a large number of individuals miss sold to burst SIPPs faulty pensions. They are out to ensure that each claim is met and the customers satisfied.
The compensation amount stated is specifically for claims about miss-selling. FSCS is also allowing up to a maximum of up to £85,000 compensation per person per firm claim.
It, therefore, means that if you are a victim of miss-selling your money is due for claiming. All you need to do is file your claim with a professional body and start your compensation claim. The £100 million set aside by FSCS is specifically for miss sold SIPPs.
So this is enough reason for you to file your compensation claim right now. You should not let your money go to waste when there are enough funds allocated for compensation. You can start your compensation process right now. And we can assist you to do so.
“The compensation amount stated is specifically for claims about miss-selling. FSCS is also allowing up to a maximum of up to £85,000 compensation per person per firm claim.”
How we can assist you to claim for your Money
Our claiming services are available just one click away. All you have to do is log on to our site and file your claim. The rest you leave to our team of experts they will deal with the issue in a professional way and ensure you receive your
claim faster than you can think of.
Another advantage you will get while claiming your money through us is the No Win No Pay memorandum. If your claim does not go through you do not need to pay us anything. Once you file your claim you will enjoy the peace of mind as we battle it out for you.
So do not leave your pension investment to get lost. There is a running £320million that is being claimed from June last year up to June 2018 and another whopping £336 million up for claim from July 2018 to March 2019.