Saving the planet while saving for your future. Sounds good doesn’t it?
However, based in this premise, UK investors have been sold ethical unregulated investment products in multiple cases that have recently come to light.
It was packaged as a green investment which offered huge returns. It pleased the investor’s social conscious along with promising a more comfortable retirement as the projected growth was seen to be good.
This weekend the Sun newspaper reported on how one firm had caused ceased trading and investors where left in the lurch and the horror stories from some of the victims of the financial impact on this poorly advised SIPPS pension transfer.
So what wrong?
Individuals used a pension option recommended by financial advisors or supposed pension transfers experts called SIPPS. SIPPS is an abbreviation for self-invested pension plan which are designed to give you more freedom. This lets experienced investors make financial choices on how and where their pension is invested.
Unfortunately many people who have opted for this type of pension have fallen victim of poor advice and have been duped to invest in unstable companies and organizations.
Unlike most things in financial services the plans that have been reported on are unregulated plans that financial advisors have recommended over the years. One of these unregulated areas is forestry and investing in the future of the world while being promised a substantial return from your initial investment.
In The Sun newspaper on Saturday the 27th March 2016 it was reported how several companies of this ilk had promised to buy protected forest land in places such as Costa Rica plant trees and then make a return from harvesting the timber and exporting it.
For a green investor this sounds like the perfect plan you are pleasing your conscious while making a return for your pension giving you a better quality of life for the future.
However, the report highlighted a handful of the case where individuals lost £50,000 or more in pension funds. Unfortunately as these plans are unregulated you are not covered by the financial services compensations scheme – but this does not mean you are on your own – we can help if you have experienced a similar scam.
With our help there are still ways in which you might be able to re-claim your mis-sold SIPPS value and at Expert Pension Claims we can help you.
Call us today or contact us through the website and we will be happy to discuss your pension transfer with a free no obligation consultation. This allow us to see if we can help you take your claim forward.