Good morning.
I am emailing you as I believe you deal with finances and this is about an issue that potentially impacts staff pensions.
The issue is relevant to staff over the age of 45 who chose to pay additional pension contributions. Many thousands were advised to invest those extra contributions outside the main pension scheme, and into an arrangement run by insurance companies called a Free Standing Additional Voluntary Contribution Scheme (or FSAVC for short). You might have heard of it.
FSAVC schemes have such high charges and poor investment returns that many people will have lost up to half the value of their pension, without even realising it. The impact of FSAVC schemes on retirement incomes is so severe that the financial services industry regulator ordered a review of sales, but, following lobbying from insurers, many people were excluded from it.
All is not lost, however. I am an accredited pension claims specialist and I can help affected staff recover their losses. I have been doing it successfully for a number of years and have helped numerous people get their pensions back on track. You can find out more about me, and more importantly what my clients say, on my website. You can also call me on 0151 329 0775 should you have any questions.
Would you be so kind as to forward the email below email to staff and/or print it and put it on your notice boards?
I work hard to ensure that the emails I send are relevant and useful. If this one is not, please unsubscribe here and I will not contact you again.
Kind regards,
Greg Vaughan
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Pension Alert: Free Standing Additional Voluntary Contribution Pension Plans (FSAVCs)
My name is Greg Vaughan, an authorised pension claims specialist, and I have important information to share regarding pensions mis-selling.
If you were sold a top-up pension product called an FSAVC (Free Standing Additional Voluntary Contribution scheme) please read on.
How do I know if my pension might be affected?
Due to the period when most policies were sold (the 1990s), it is only likely to affect you if you are over 45 years of age now.
If you know you had a FSAVC pension plan, then please act now as you are very likely to have been mis-sold this product and be owed money.
If you are unsure what it is, an FSAVC is a separate pension plan, outside your employer's scheme, created for people that wished to save extra money for their retirement.
Due to poor investment performance and high charges, FSAVC plans have often been deemed mis-sold by the Financial Ombudsman. Anyone not given proper advice is entitled to compensation for losses incurred.
These losses are usually substantial, equating to up to half the value of your pension. A recent claim I dealt with for a headteacher resulted in compensation of over £67,000.
What to do if you know or think you might have had an FSAVC
It is important you take action now, otherwise you risk having any claim time barred in the future. You can only claim once, so getting it right is important - you will not get another chance. You can still claim even if the company that sold you the policy is no longer in existence.
Which companies sold these policies?
High policy charges and big commissions for advisers meant many large insurers and banks, plus Independent Financial Advisers, sold FSAVCs during the 1990s. Amongst the biggest sellers were Teachers Assurance (now LV) Allied Dunbar (now Zurich), Wesleyan (formerly Medical Sickness Society), Lincoln National (now Sun Life Financial of Canada) and Friends Life.
Getting help
I specialise in this type of claim and have been highly successful in winning compensation for many clients. Testimonials are available to read on my website. I only work on a “no win, no fee” basis, so there is absolutely no fee to pay upfront, nor if your case is unsuccessful.
Please visit my website for additional information and take the 60 second mis-selling test to determine if you have been a victim: www.pension-claims.com/fsavc
If you would like to get in touch directly, please feel free to call me on 0151 329 0775 or 07788 630037 or email greg@pension-claims.com. I am always happy to have an informal, no obligation, chat about your situation.
Kind regards
Greg Vaughan
0151 329 0775