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Mis-Sold FSAVC Compensation

Do you think you were mis-sold a FSAVC pension? If so, contact us today and see how we can help.

Due to the complexity of pensions, it’s easy to fall foul of being mis-sold a FSAVC. If you agree with any of the following statements, you may be able to claim compensation for a mis-sold FSAVC:

  • No-one told you about the higher costs involved with an FSAVC
  • You were not informed about how your funds were invested
  • You weren’t told about Additional Voluntary Contributions, which you could have made at any point to your existing occupational scheme
  • You were not informed that your employer would also contribute to your AVC but not to your FSAVC
  • The differences between AVC and FSAVC were not explained

About FSAVC Mis-Selling

Pensions are an excellent form of low-risk, long-term investment. FSAVC (Free-Standing Additional Voluntary Contribution) schemes are similar to personal pension policies, with the main difference being they can be used by members of an occupational pension scheme to boost their pension pot.

Contributions are paid directly to the FSAVC provider. These contributions are then invested. Then, as the investments produce returns, these funds can be used to provide retirement benefits. However, it is extremely rare that these benefits are as good as those provided by AVC.

Prior to April 2006, it was only possible to contribute up to 15% of your salary and other pensionable benefits to an FSAVC scheme. However, after that, the limit was lifted and people could contribute 100% of their earnings (to a fixed maximum sum).

The FSA raised concerns about the high risk of financial loss with FSAVCs, particularly those converted into personal pensions. In many cases, pension-holders were not given suitable advice, which is regarded as FSAVC mis-selling.

What’s the next step?

To find out whether you’re eligible to claim compensation for a mis-sold FSAVC, simply call us today on 01204 565331 or email Alternatively, you can request a call back below and we’ll get back to you straight away.

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