FSCS boss Mark Neale calls for increased compensation limit.
The Chief Executive of the FSCS - Mark Neale has called for compensation limits to increase significantly to ensure consumers are getting more of their pension back if they were mis-advised.
Mr Neale wants the FSCS to exclude certain unregulated investments and retirement products which have led to a high number of payouts. Mr Neale has also expressed that the number of claims and payouts are continuing to rise.
If the compensation limit does increase, it will provide security and protection for those who have been mis-advised due to "skillful manipulation of their behavioural biases and exploiting their discomfort when faced with products and choices they struggle to understand."
If you have been mis-advised to take out a SIPP by a company no longer operating, we could work with you to try and get your compensation from the FSCS. If you have been mis-advised to take out a SIPP by a company that is still operating we may also be able to help you get compensated through the FOS or another relevant party.
Our friendly team would be happy to have a no obligation chat if you would like to discuss a potential claim with us. We work on a no-win-no-fee basis so you have nothing to lose!
The number to reach us on is 01903868251.