The Lemon Fool

I've been contacted by a company called Keller Postman who say I'm eligible for compensation because I used a company called Better Retirement(now liquidated) to transfer 2 small final salary schemes into a voluntary pension, using the transfer values provided by the 2 firms I previously worked for.

They take a cut of 25% from the FSA compensation amount. They say compensation is likely to be a 5-figure sum.
Does anyone have experience of this firm, or know anything about this type of process?
Just wondering if it's like 'will tracers' where once you've been notified, you can just contact the FSA yourself.

Thoughts and views welcome.

I'm not sure how to cross-post, but I posted on ' Pension-Practical -Problems' boards before thinking it might be more relevant herr.
More details on my list on that board, but in summary, I've been contacted by Keller-Postman law firm telling me I'm entitled to 5-figure compensation for mis selling of transferring 2 small final salary schemes to money ourchase, and they'll take 25% of my FSA compensation.

Views/thoughts?

zico wrote:I've been contacted by…

Views/thoughts?

So ‘ambulance chasers’.

If you actually have a claim then wouldn’t the usual process be to proactively find the firm that will provide the best results, rather than just accept someone that contacts you out of the blue.

1. Did you use Better Retirement?

2. Do Keller Postman say WHY you should be entitled to compensation? Were you mis-sold something?

3. What are KP going to do for their cut, and could you do it yourself?

This may be of relevance

https://www.fscs.org.uk/making-a-claim/ ... ent-group/

You don't need a claims company or a solicitor to make a claim with us, but if you're not good with forms, consider using a friend or family member as a personal representative.

chas49 wrote:1. Did you use Better Retirement?

2. Do Keller Postman say WHY you should be entitled to compensation? Were you mis-sold something?

3. What are KP going to do for their cut, and could you do it yourself?

1. Yes, I used Better Retirement.
2. Keller Postman said that Better Retirement weren't giving strong enough advice against transferring out of final salary pensions.
3. Presumably a standard wording for all similar claims. Maybe I could do it myself.

zico wrote:I've been contacted by a company called Keller Postman who say I'm eligible for compensation because I used a company called Better Retirement(now liquidated) to transfer 2 small final salary schemes into a voluntary pension, using the transfer values provided by the 2 firms I previously worked for.

They take a cut of 25% from the FSA compensation amount. They say compensation is likely to be a 5-figure sum.
Does anyone have experience of this firm, or know anything about this type of process?
Just wondering if it's like 'will tracers' where once you've been notified, you can just contact the FSA yourself.

Thoughts and views welcome.

I've had BRG ambulance chasers calling me since last March, see viewtopic.php?p=485613#p485613.

After that initial post I had more calls, mostly missed as I tend not to answer if I don't recognise the number, and on looking the number(s) up on who-called-me etc found that they'd been reported as pension ambulance chasers, so assume it was the same bunch. And indeed, after a while my phone was flagging the calls as scams and offered to block the numbers (which changed regularly), which I did. The calls actually stopped a couple of months ago.

I expect that you, like I and the others on the Pensions board that went with BRG, sought them out (if not directly then via SIPPclub) precisely 'cos we wanted an IFA that we were sure would give the OK to a transfer, and indeed when I did it BRG had a (later banned by the FCA) no-transfer-no-fee policy.

As such one side of me thinks it's a bit of a cheek to try for any compensation for mis-selling when the truth is I was an insistent-buyer! And in any case, certainly not via 25%-sucking lampreys ...

mc2fool wrote:I expect that you, like I and the others on the Pensions board that went with BRG, sought them out (if not directly then via SIPPclub) precisely 'cos we wanted an IFA that we were sure would give the OK to a transfer, and indeed when I did it BRG had a (later banned by the FCA) no-transfer-no-fee policy.

The FCA seem to think that offers of transfer values as compensation for giving up defined benefits are always poor value for money. Perhaps they are, but surely not always. Why then is the shortchanging of leavers from defined benefit schemes not addressed?