If anyone suffers from a mis-sold pension, he/she can opt for a substantial amount of compensation. However, claiming for such pension has always remained a big issue. On the other hand, you may also pay off high rewards. Due to this, people mostly ignore claiming for such pensions and most of them are not aware of such claims. During such cases, people should hold their documents regarding pensions and look for professional help. Experienced professionals can help and provide guidance regarding investments.
Are you also a victim of any such compensation frauds? Well, there are various ways one can claim for such pensions.
Here are some of the ways one can claim for the mis-sold pension compensation
Medical and Health Issues
If your pension advisors fail to submit the right lifestyle and health information, this would be considered accurately taking into account the annuity term period. There are various questions you would be inquired with regarding your medical conditions and lifestyle that would come with an impact on your health. Having any kind of habits like smoking or drinking, overweight issues, medical issues, and every such issue that would reduce the lifespan should be disclosed and if this is not done you can surely claim for compensation. And if this is not done, you are liable for a claim for pensions that can range up to 30 to 50 percent every year.
Lack of required information
While selecting the mis-sold pension plan, were you given all the information regarding the withdrawals? Do you know you can draw 25 percent of the pension savings to half of the amount for various purposes? There are various plans that need to be revealed while making an investment like your retirement plans, how to use the money to support your lifestyle, etc. However, if you are not provided with all the required information that would be helpful in taking the right decision, you can surely claim for any compensation. This is also a key area where people can claim against the provider for getting compensations.
Provided with wrong options
Are you provided with the right suggestion or advice while investing? At times, it happens that people are not provided with the correct advice or investment plan considering their requirements or personal circumstances. Similarly, there are many more annuity options that if delivered incorrectly would hinder your claims at the time of compensations. Again, there are various options for annuity claiming the pensions which would cover everything, but delivering the wrong option surely needs compensation.
Have you ever faced any such pension that is mis-sold? Step ahead and look for the correct compensation option for your case.