How To Tell If You Are Due Compensation

Were you sold a personal pension between 29 April 1988 and 30 June 1994 or are you the spouse or dependent of someone who was sold a personal pension and has since died?

You could have a claim for compensation if:

1 You were a member of your employer's occupational pension scheme which you left to buy a personal pension plan.

2 You were not warned by the pension salesman or your financial adviser that if you left the occupational scheme you would no longer be entitled to a contribution from your employer.

3 You were not a member of a pension scheme and were persuaded to buy a personal pension plan although you could have joined your employer's scheme. If you qualify, check further:

4 Has the firm or adviser which sold you the personal pension plan already contacted you? Did they send you a letter or a questionnaire asking for some information? If so did you reply? If not, get in touch with them as quickly as you can. If you don't, you could lose your chance to have things put right.

5 You may be asked for details about your current pay and employment details, whether you are married, and the approximate dates when you joined and left your employer's pension scheme.

6 When your review has been completed the firm will write and tell you whether it believes you were wrongly advised and if so whether you have suffered loss. If it believes you did not, and you are not happy with the decision you have the right to appeal.

7 If the firm decides you were wrongly advised and have suffered loss it may send an offer of redress telling you how it plans to put things right. It will also tell you what to do if you are not sure whether to accept.

8 If the firm cannot yet make you a definite offer, if for example your employer's scheme has not yet decided if it will take you back, it will send you a letter of intent, outlining what it expects will happen next.

9 If you are still able to rejoin your employer's scheme it is usually a good idea to do so now.

10 If the company that advised you is no longer in business, you want general advice and information about the pensions review or you are unhappy at the way your complaint has been dealt with, contact the PIA Pensions Unit on 0171-417-7001.